SVB Wealth LLC Takes $247,000 Position in CrossAmerica Partners LP (NYSE:CAPL)

Posted by on May 28th, 2023

SVB Wealth LLC acquired a new stake in shares of CrossAmerica Partners LP (NYSE:CAPL – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,470 shares of the oil and gas company’s stock, valued at approximately $247,000.

A number of other hedge funds have also made changes to their positions in the stock. Goldman Sachs Group Inc. grew its holdings in CrossAmerica Partners by 28.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 313,052 shares of the oil and gas company’s stock valued at $6,827,000 after buying an additional 68,459 shares during the last quarter. First Trust Advisors LP grew its holdings in CrossAmerica Partners by 22.3% in the 4th quarter. First Trust Advisors LP now owns 254,943 shares of the oil and gas company’s stock valued at $5,056,000 after buying an additional 46,537 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in CrossAmerica Partners by 4.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 713,497 shares of the oil and gas company’s stock valued at $14,149,000 after buying an additional 28,040 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in CrossAmerica Partners in the 1st quarter valued at approximately $459,000. Finally, Morton Brown Family Wealth LLC grew its holdings in CrossAmerica Partners by 981.6% in the 4th quarter. Morton Brown Family Wealth LLC now owns 20,096 shares of the oil and gas company’s stock valued at $399,000 after buying an additional 18,238 shares during the last quarter. Institutional investors and hedge funds own 23.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CAPL shares. TheStreet lowered CrossAmerica Partners from a “b-” rating to a “c+” rating in a report on Wednesday. StockNews.com began coverage on CrossAmerica Partners in a report on Thursday, May 18th. They set a “buy” rating on the stock.

Insider Buying and Selling at CrossAmerica Partners

In other CrossAmerica Partners news, Director Joseph V. Jr. Topper acquired 13,539 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was purchased at an average price of $18.38 per share, for a total transaction of $248,846.82. Following the transaction, the director now owns 83,695 shares in the company, valued at approximately $1,538,314.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders acquired 14,539 shares of company stock worth $267,937. 52.00% of the stock is currently owned by insiders.

CrossAmerica Partners Price Performance

CrossAmerica Partners stock opened at $18.44 on Friday. The company has a debt-to-equity ratio of 26.95, a current ratio of 0.71 and a quick ratio of 0.40. The company has a market capitalization of $699.80 million, a PE ratio of 12.72 and a beta of 1.70. CrossAmerica Partners LP has a one year low of $17.91 and a one year high of $23.20. The business has a 50 day simple moving average of $20.54 and a 200 day simple moving average of $20.75.

CrossAmerica Partners (NYSE:CAPL – Get Rating) last posted its earnings results on Monday, February 27th. The oil and gas company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.17 by $0.26. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $725.28 million. CrossAmerica Partners had a return on equity of 106.25% and a net margin of 1.14%. On average, sell-side analysts forecast that CrossAmerica Partners LP will post 0.54 EPS for the current fiscal year.

CrossAmerica Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 10th. Shareholders of record on Wednesday, May 3rd were given a $0.525 dividend. The ex-dividend date of this dividend was Tuesday, May 2nd. This represents a $2.10 annualized dividend and a yield of 11.39%. CrossAmerica Partners’s payout ratio is 144.83%.

CrossAmerica Partners Company Profile

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CrossAmerica Partners LP engages in the business of wholesaling distribution of motor fuel, convenience store operation, and the ownership and leasing of real estate used in the retail distribution of motor fuel. It operates under the Wholesale and Retail segments. The Wholesale segment focuses on providing wholesale distribution services to lessee dealers and independent dealers.

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Institutional Ownership by Quarter for CrossAmerica Partners (NYSE:CAPL)

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