CSI Compressco LP (CCLP) Sees Unusually-High Trading Volume
Shares of CSI Compressco LP (NASDAQ:CCLP) saw an uptick in trading volume on Friday . 129,888 shares changed 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 lowered shares of CSI Compressco from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. CSI Compressco currently has an average rating of “Hold” and a consensus price target of $9.00.
The firm’s market capitalization is $315.58 million. The stock has a 50-day moving average of $8.48 and a 200 day moving average of $7.26.
CSI Compressco (NASDAQ:CCLP) last announced its earnings results on Friday, August 5th. The company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.03. The business had revenue of $76.10 million for the quarter, compared to analyst estimates of $81.70 million. Equities research analysts anticipate that CSI Compressco LP will post ($0.41) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, August 1st will be issued a $0.3775 dividend. The ex-dividend date is Thursday, July 28th. This represents a $1.51 dividend on an annualized basis and a yield of 15.89%.
A hedge fund recently raised its stake in CSI Compressco stock. Wells Fargo & Company MN boosted its position in CSI Compressco LP (NASDAQ:CCLP) by 33,712.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,001,185 shares of the company’s stock after buying an additional 998,224 shares during the period. Wells Fargo & Company MN owned about 3.02% of CSI Compressco worth $11,414,000 at the end of the most recent reporting period.
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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