Crossamerica Partners LP (NYSE:CAPL) declared a quarterly dividend on Thursday, July 23rd, Zacks reports. Stockholders of record on Tuesday, August 4th will be given a dividend of 0.525 per share by the oil and gas company on Tuesday, August 11th. This represents a $2.10 annualized dividend and a dividend yield of 14.11%. The ex-dividend date is Monday, August 3rd.
Crossamerica Partners has decreased its dividend payment by an average of 12.5% annually over the last three years. Crossamerica Partners has a dividend payout ratio of 104.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Crossamerica Partners to earn $0.44 per share next year, which means the company may not be able to cover its $2.10 annual dividend with an expected future payout ratio of 477.3%.
NYSE:CAPL opened at $14.88 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 4.80. Crossamerica Partners has a twelve month low of $6.81 and a twelve month high of $19.79. The company has a market cap of $563.45 million, a PE ratio of 5.95 and a beta of 2.25. The company’s 50 day moving average is $13.83 and its two-hundred day moving average is $14.52.
A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded Crossamerica Partners from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Friday, July 24th. Wells Fargo & Co boosted their target price on shares of Crossamerica Partners from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th.
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.
Further Reading: What does an equal weight rating mean?
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