CSI Compressco LP (NASDAQ:CCLP) has been given a consensus rating of “Hold” by the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $7.75.
CCLP has been the subject of a number of recent research reports. Stifel Nicolaus lowered their price target on shares of CSI Compressco from $9.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, May 10th. Zacks Investment Research cut shares of CSI Compressco from a “hold” rating to a “sell” rating in a research report on Thursday, May 25th. Capital One Financial Corporation reissued an “equal weight” rating on shares of CSI Compressco in a research report on Tuesday, August 8th. Royal Bank Of Canada reissued a “hold” rating and set a $8.00 price target on shares of CSI Compressco in a research report on Monday. Finally, Bank of America Corporation lowered their price target on shares of CSI Compressco from $6.50 to $5.00 and set an “underperform” rating for the company in a research report on Wednesday.
Hedge funds and other institutional investors have recently modified their holdings of the company. Parkwood LLC boosted its position in shares of CSI Compressco by 1.8% in the first quarter. Parkwood LLC now owns 65,721 shares of the oil and gas company’s stock valued at $644,000 after buying an additional 1,180 shares during the period. Robotti Robert boosted its position in shares of CSI Compressco by 38.6% in the first quarter. Robotti Robert now owns 32,320 shares of the oil and gas company’s stock valued at $317,000 after buying an additional 9,000 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of CSI Compressco by 9.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 118,916 shares of the oil and gas company’s stock valued at $1,165,000 after buying an additional 10,083 shares during the period. Aegis Financial Corp boosted its position in shares of CSI Compressco by 22.0% in the second quarter. Aegis Financial Corp now owns 61,000 shares of the oil and gas company’s stock valued at $296,000 after buying an additional 11,000 shares during the period. Finally, Citadel Advisors LLC purchased a new position in shares of CSI Compressco during the first quarter valued at about $136,000. 28.24% of the stock is owned by institutional investors and hedge funds.
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CSI Compressco (CCLP) traded down 1.09% during mid-day trading on Wednesday, hitting $4.55. The company’s stock had a trading volume of 63,167 shares. CSI Compressco has a 52-week low of $4.12 and a 52-week high of $13.54. The firm has a 50 day moving average of $4.80 and a 200-day moving average of $7.24. The firm’s market cap is $161.50 million.
CSI Compressco (NASDAQ:CCLP) last issued its quarterly earnings results on Tuesday, August 8th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.04. CSI Compressco had a negative net margin of 17.01% and a negative return on equity of 36.43%. The company had revenue of $75.32 million during the quarter, compared to analysts’ expectations of $66.64 million. On average, equities research analysts expect that CSI Compressco will post ($1.10) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Tuesday, August 1st were given a dividend of $0.1875 per share. The ex-dividend date was Friday, July 28th. This represents a $0.75 dividend on an annualized basis and a yield of 16.48%. CSI Compressco’s dividend payout ratio (DPR) is currently -50.00%.
About CSI Compressco
CSI Compressco LP is a provider of compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. The Company sells custom-designed compressor packages and oilfield fluid pump systems, and provides aftermarket services and compressor package parts and components manufactured by third-party suppliers.
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