CSI Compressco LP (CCLP) Stock Price Up 5.5%
Shares of CSI Compressco LP (NASDAQ:CCLP) rose 5.5% on Thursday . The stock traded as high as $9.39 and last traded at $9.28, with a volume of 164,268 shares changing hands. The stock had previously closed at $8.80.
Separately, Zacks Investment Research upgraded shares of CSI Compressco from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Tuesday, July 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $9.00.
The company has a 50-day moving average of $8.42 and a 200-day moving average of $7.24. The firm’s market capitalization is $306.94 million.
CSI Compressco (NASDAQ:CCLP) last announced its quarterly earnings results on Friday, August 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by $0.03. The business had revenue of $76.10 million for the quarter, compared to the consensus estimate of $81.70 million. Analysts forecast that CSI Compressco LP will post ($0.41) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 1st will be paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 16.34%. The ex-dividend date of this dividend is Thursday, July 28th.
An institutional investor recently raised its position in CSI Compressco stock. Advisors Asset Management Inc. boosted its stake in shares of CSI Compressco LP (NASDAQ:CCLP) by 22.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 157,335 shares of the company’s stock after buying an additional 29,116 shares during the period. Advisors Asset Management Inc. owned approximately 0.47% of CSI Compressco worth $1,794,000 as of its most recent SEC filing.
CSI Compressco LP, formerly Compressco Partners, L.P., 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.