CSI Compressco LP (CCLP) Sees Large Volume Increase
CSI Compressco LP (NASDAQ:CCLP) saw strong trading volume on Friday . 129,888 shares traded hands during mid-day trading, an increase of 45% from the previous session’s volume of 89,627 shares.The stock last traded at $9.43 and had previously closed at $9.24.
Separately, Zacks Investment Research upgraded CSI Compressco from a “sell” rating to a “hold” rating in a research note on Friday, May 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $9.00.
The company’s market cap is $315.58 million. The company has a 50 day moving average of $8.46 and a 200-day moving average of $7.25.
CSI Compressco (NASDAQ:CCLP) last posted its earnings results on Friday, August 5th. The company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. The firm earned $76.10 million during the quarter, compared to analyst estimates of $81.70 million. On average, equities research analysts predict that CSI Compressco LP will post ($0.41) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 1st will be issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 15.89%. 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 disclosure with the Securities and Exchange Commission. The institutional investor owned 157,335 shares of the company’s stock after buying an additional 29,116 shares during the period. Advisors Asset Management Inc. owned about 0.47% of CSI Compressco worth $1,794,000 at the end of the most recent quarter.
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.
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