Renaissance Technologies LLC Decreases Stake in CrossAmerica Partners LP (CAPL)

Renaissance Technologies LLC decreased its stake in CrossAmerica Partners LP (NYSE:CAPL) by 23.2% during the first quarter, Holdings Channel reports. The firm owned 86,994 shares of the oil and gas company’s stock after selling 26,343 shares during the period. Renaissance Technologies LLC’s holdings in CrossAmerica Partners were worth $2,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Stephens Inc. AR increased its position in CrossAmerica Partners by 8.2% in the first quarter. Stephens Inc. AR now owns 8,994 shares of the oil and gas company’s stock valued at $235,000 after buying an additional 685 shares during the period. OppenheimerFunds Inc. increased its position in CrossAmerica Partners by 11.3% in the first quarter. OppenheimerFunds Inc. now owns 3,036,037 shares of the oil and gas company’s stock valued at $79,483,000 after buying an additional 307,680 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in CrossAmerica Partners by 5.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 92,395 shares of the oil and gas company’s stock valued at $2,419,000 after buying an additional 4,603 shares during the period. Iridian Asset Management LLC CT increased its position in CrossAmerica Partners by 2.5% in the first quarter. Iridian Asset Management LLC CT now owns 159,681 shares of the oil and gas company’s stock valued at $4,180,000 after buying an additional 3,820 shares during the period. Finally, Mutual of America Capital Management LLC increased its position in CrossAmerica Partners by 0.8% in the first quarter. Mutual of America Capital Management LLC now owns 101,901 shares of the oil and gas company’s stock valued at $2,668,000 after buying an additional 760 shares during the period. 37.10% of the stock is currently owned by hedge funds and other institutional investors.

CrossAmerica Partners LP (NYSE:CAPL) traded up 0.26% during mid-day trading on Thursday, reaching $26.50. 3,601 shares of the company traded hands. The firm’s market capitalization is $897.29 million. The company’s 50 day moving average price is $26.68 and its 200 day moving average price is $25.67. CrossAmerica Partners LP has a 12-month low of $23.26 and a 12-month high of $29.80.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings results on Monday, August 7th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.01. The firm had revenue of $528.79 million during the quarter, compared to analyst estimates of $596.92 million. CrossAmerica Partners had a return on equity of 4.11% and a net margin of 0.06%. Equities research analysts predict that CrossAmerica Partners LP will post ($0.02) EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were paid a dividend of $0.6225 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.49 dividend on an annualized basis and a yield of 9.42%. This is a positive change from CrossAmerica Partners’s previous quarterly dividend of $0.51. CrossAmerica Partners’s payout ratio is -8,297.23%.

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Several brokerages recently commented on CAPL. Zacks Investment Research downgraded shares of CrossAmerica Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub downgraded shares of CrossAmerica Partners from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Raymond James Financial, Inc. lifted their target price on shares of CrossAmerica Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Finally, Bank of America Corporation downgraded shares of CrossAmerica Partners from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $28.00 to $30.00 in a research note on Wednesday, July 26th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $30.00.

In related news, Director John B. Reilly III acquired 1,602 shares of the stock in a transaction on Friday, August 11th. The shares were bought at an average price of $25.91 per share, with a total value of $41,507.82. Following the completion of the purchase, the director now owns 192,471 shares of the company’s stock, valued at approximately $4,986,923.61. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeremy Bergeron acquired 1,500 shares of the stock in a transaction on Thursday, August 10th. The shares were bought at an average cost of $26.03 per share, for a total transaction of $39,045.00. Following the purchase, the insider now directly owns 11,061 shares of the company’s stock, valued at approximately $287,917.83. The disclosure for this purchase can be found here. Insiders have acquired 53,102 shares of company stock worth $1,380,553 in the last three months.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP is a limited partnership engaged in the wholesale distribution of motor fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuel. The Company operates in two segments: wholesale and retail. The wholesale segment is engaged in the wholesale distribution of motor fuel to lessee dealers, independent dealers, commission agents, Dunne Manning Stores LLC (DMS), CST Brands, Inc and subsidiaries (CST) and company operated retail sites.

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

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