BB&T Investment Services Inc. bought a new position in shares of CrossAmerica Partners LP (NYSE:CAPL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,577 shares of the oil and gas company’s stock, valued at approximately $577,000. BB&T Investment Services Inc. owned approximately 0.07% of CrossAmerica Partners as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of CAPL. Northwestern Mutual Investment Management Company LLC bought a new stake in CrossAmerica Partners during the 2nd quarter worth approximately $3,365,000. Welch Capital Partners LLC NY increased its stake in CrossAmerica Partners by 67.5% during the 2nd quarter. Welch Capital Partners LLC NY now owns 99,871 shares of the oil and gas company’s stock worth $2,547,000 after purchasing an additional 40,246 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in CrossAmerica Partners by 12.9% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 308,286 shares of the oil and gas company’s stock worth $7,861,000 after acquiring an additional 35,106 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in CrossAmerica Partners by 2.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,089,908 shares of the oil and gas company’s stock worth $27,793,000 after acquiring an additional 30,751 shares during the last quarter. Finally, Arrow Investment Advisors LLC acquired a new position in CrossAmerica Partners during the 2nd quarter worth approximately $705,000. 35.05% of the stock is owned by institutional investors and hedge funds.
CrossAmerica Partners LP (CAPL) traded down 1.25% during trading on Thursday, reaching $26.15. The company’s stock had a trading volume of 5,954 shares. The company’s 50-day moving average is $27.03 and its 200-day moving average is $26.00. CrossAmerica Partners LP has a 12 month low of $23.26 and a 12 month high of $29.80. The stock’s market cap is $885.44 million.
CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Monday, August 7th. The oil and gas company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.01). The firm had revenue of $528.79 million for the quarter, compared to the consensus estimate of $596.92 million. CrossAmerica Partners had a net margin of 0.06% and a return on equity of 4.11%. Equities analysts expect that CrossAmerica Partners LP will post ($0.02) EPS for the current fiscal year.
A number of equities analysts have weighed in on CAPL shares. Zacks Investment Research raised CrossAmerica Partners from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Tuesday, July 11th. BidaskClub raised CrossAmerica Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Bank of America Corporation downgraded CrossAmerica Partners from a “buy” rating to a “neutral” rating and upped their price target for the stock from $28.00 to $30.00 in a research report on Wednesday, July 26th. Finally, Raymond James Financial, Inc. upped their price target on CrossAmerica Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. CrossAmerica Partners has a consensus rating of “Hold” and a consensus price target of $30.00.
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In related news, Director John B. Reilly III purchased 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average price of $26.00 per share, for a total transaction of $1,300,000.00. Following the completion of the acquisition, the director now owns 190,869 shares of the company’s stock, valued at approximately $4,962,594. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeremy Bergeron purchased 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average price of $26.03 per share, with a total value of $39,045.00. Following the acquisition, 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. In the last 90 days, insiders have bought 122,235 shares of company stock valued at $3,257,064.
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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