Zacks Investment Research upgraded shares of Crossamerica Partners (NYSE:CAPL) from a hold rating to a buy rating in a research report released on Monday morning, Zacks.com reports. The brokerage currently has $16.00 price objective on the oil and gas company’s stock.

According to Zacks, “CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, consisting of gasoline and diesel fuel, and owns and leases real estate used in the retail distribution of motor fuels. CrossAmerica Partners LP, formerly known as Lehigh Gas Partners LP, is headquartered in Allentown, Pennsylvania. “

Separately, Wells Fargo & Co increased their price target on shares of Crossamerica Partners from $12.00 to $14.00 and gave the stock an equal weight rating in a research note on Tuesday, May 12th.

Shares of CAPL opened at $16.07 on Monday. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.60 and a current ratio of 0.53. The company has a market capitalization of $583.55 million, a price-to-earnings ratio of 6.53 and a beta of 2.25. The company’s 50 day simple moving average is $13.76 and its 200 day simple moving average is $14.31. Crossamerica Partners has a 1 year low of $6.81 and a 1 year high of $19.79.

Crossamerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Thursday, August 6th. The oil and gas company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.21. Crossamerica Partners had a net margin of 4.75% and a return on equity of 16.68%. Equities analysts expect that Crossamerica Partners will post 0.1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, August 4th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 13.07%. The ex-dividend date was Monday, August 3rd. Crossamerica Partners’s dividend payout ratio is currently 411.76%.

Institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its position in shares of Crossamerica Partners by 6.1% in the second quarter. Janney Montgomery Scott LLC now owns 27,678 shares of the oil and gas company’s stock worth $373,000 after acquiring an additional 1,583 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Crossamerica Partners by 44.5% in the first quarter. Clearbridge Investments LLC now owns 1,202,541 shares of the oil and gas company’s stock worth $9,692,000 after acquiring an additional 370,541 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Crossamerica Partners by 10.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 90,708 shares of the oil and gas company’s stock worth $1,221,000 after acquiring an additional 8,500 shares in the last quarter. Bank of America Corp DE increased its position in shares of Crossamerica Partners by 5,433.0% in the fourth quarter. Bank of America Corp DE now owns 168,757 shares of the oil and gas company’s stock worth $3,045,000 after acquiring an additional 165,707 shares in the last quarter. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of Crossamerica Partners in the first quarter worth $75,000. 28.42% of the stock is owned by institutional investors.

About Crossamerica Partners

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. The company operates in two segments, Wholesale and Retail. The Wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, and company operated retail sites.

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