WealthTrust Axiom LLC Raises Position in CSI Compressco LP (CCLP)
WealthTrust Axiom LLC boosted its stake in shares of CSI Compressco LP (NASDAQ:CCLP) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 195,800 shares of the company’s stock after buying an additional 2,850 shares during the period. WealthTrust Axiom LLC owned approximately 0.59% of CSI Compressco worth $1,597,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. ING Groep NV bought a new stake in CSI Compressco during the first quarter valued at about $609,000. Renaissance Technologies LLC bought a new stake in CSI Compressco during the first quarter valued at about $328,000. Finally, Mariner Wealth Advisors LLC bought a new stake in CSI Compressco during the first quarter valued at about $317,000. 29.01% of the stock is owned by institutional investors and hedge funds.
Shares of CSI Compressco LP (NASDAQ:CCLP) traded up 1.11% during midday trading on Thursday, hitting $10.02. The company had a trading volume of 56,427 shares. The firm’s market capitalization is $332.93 million. The stock has a 50 day moving average price of $9.53 and a 200 day moving average price of $8.20. CSI Compressco LP has a 1-year low of $3.74 and a 1-year high of $15.27.
CSI Compressco (NASDAQ:CCLP) last posted its earnings results on Friday, August 5th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.03. CSI Compressco had a negative return on equity of 6.41% and a negative net margin of 67.25%. The company earned $76.10 million during the quarter, compared to the consensus estimate of $81.70 million. On average, equities analysts anticipate that CSI Compressco LP will post ($0.37) EPS for the current fiscal year.
Separately, Zacks Investment Research downgraded CSI Compressco from a “hold” rating to a “sell” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $9.00.
CSI Compressco Company Profile
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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