Zacks Investment Research cut shares of CSI Compressco (NASDAQ:CCLP) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.
According to Zacks, “CSI Compressco LP offers compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. Its equipment and parts sales business includes the fabrication and sale of standard compressor packages, custom-designed compressor packages and engine-driven oilfield fluid pump systems designed. The company offers well monitoring and automated sand separation services as well as compressor package reconfiguration and maintenance services. CSI Compressco LP, formerly known as Compressco Partners, L.P., is headquartered in Oklahoma City. “
A number of other research firms also recently issued reports on CCLP. ValuEngine upgraded CSI Compressco from a hold rating to a buy rating in a research note on Tuesday, August 28th. BidaskClub downgraded CSI Compressco from a hold rating to a sell rating in a research note on Friday, September 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $7.00.
Shares of NASDAQ CCLP traded down $0.27 during midday trading on Tuesday, hitting $5.48. 337,466 shares of the company’s stock were exchanged, compared to its average volume of 121,722. The company has a debt-to-equity ratio of 8.65, a quick ratio of 1.50 and a current ratio of 2.31. CSI Compressco has a twelve month low of $4.51 and a twelve month high of $8.05. The firm has a market capitalization of $219.31 million, a PE ratio of -4.68 and a beta of 1.59.
CSI Compressco (NASDAQ:CCLP) last issued its earnings results on Wednesday, August 8th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.01). CSI Compressco had a negative return on equity of 51.34% and a negative net margin of 12.89%. The business had revenue of $99.92 million for the quarter, compared to analyst estimates of $91.13 million. On average, sell-side analysts forecast that CSI Compressco will post -0.88 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in CCLP. Wells Fargo & Company MN grew its stake in CSI Compressco by 25.8% during the 1st quarter. Wells Fargo & Company MN now owns 960,222 shares of the oil and gas company’s stock worth $6,972,000 after buying an additional 196,936 shares during the last quarter. Hilltop Holdings Inc. purchased a new position in CSI Compressco during the 1st quarter worth approximately $571,000. FMR LLC grew its stake in CSI Compressco by 17.9% during the 2nd quarter. FMR LLC now owns 1,418,587 shares of the oil and gas company’s stock worth $7,916,000 after buying an additional 215,651 shares during the last quarter. Renaissance Technologies LLC grew its stake in CSI Compressco by 120.3% during the 2nd quarter. Renaissance Technologies LLC now owns 308,002 shares of the oil and gas company’s stock worth $1,719,000 after buying an additional 168,218 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its stake in CSI Compressco by 4.4% during the 2nd quarter. OppenheimerFunds Inc. now owns 4,275,136 shares of the oil and gas company’s stock worth $23,856,000 after buying an additional 179,760 shares during the last quarter. Hedge funds and other institutional investors own 26.04% of the company’s stock.
CSI Compressco Company Profile
CSI Compressco LP provides compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage applications in the United States and internationally. It fabricates and sells standard and custom-designed compressor packages, oilfield fluid pump systems, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration services.
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