Crossamerica Partners LP (CAPL) was Initiated by BofA/Merrill to “Buy”. BofA/Merrill advised their investors in a research report released on Sep 7, 2016.
Crossamerica Partners LP opened for trading at $25.99 and hit $26.06 on the upside on Thursday, eventually ending the session at $26.05, with a gain of 0.19% or 0.05 points. The heightened volatility saw the trading volume jump to 81,239 shares. Company has a market cap of $870 M.
In a different news, on Jun 15, 2016, S Eugene Edwards (director) purchased 10,000 shares at $22.92 per share price. According to the SEC, on May 9, 2016, Jeremy Bergeron (President) purchased 2,000 shares at $23.30 per share price. On Mar 9, 2016, Hamlet T Jr Newsom (VP General Counsel & Secretary) purchased 370 shares at $23.90 per share price, according to the Form-4 filing with the securities and exchange commission.
CrossAmerica Partners LP is engaged in the distribution of motor fuels including gasoline and diesel fuel. The Company owns and leases real estate used in the retail distribution of motor fuels. The Company’s sites are located in Pennsylvania New Jersey Ohio New York Massachusetts Kentucky New Hampshire Maine Florida Maryland Delaware Tennessee Virginia Illinois Indiana and West Virginia. The Company also distributes motor fuel in Georgia and North Carolina. The Company operates in two segments: wholesale and retail. As of December 31 2014 the Company distributed motor fuels to 1074 sites. The Company purchases branded and unbranded motor fuel from integrated oil companies refiners and unbranded fuel suppliers. The Company operates 87 convenience stores in Virginia and West Virginia. In addition the Company through One Stop convenience stores network owns 41 stores in Charleston West Virginia.