Zacks Investment Research cut shares of CSI Compressco LP (NASDAQ:CCLP) from a hold rating to a sell rating in a report issued on Monday morning.

According to Zacks, “CSI Compressco LP offers compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. Its equipment and parts sales business includes the fabrication and sale of standard compressor packages, custom-designed compressor packages and engine-driven oilfield fluid pump systems designed. The company offers well monitoring and automated sand separation services as well as compressor package reconfiguration and maintenance services. CSI Compressco LP, formerly known as Compressco Partners, L.P., is headquartered in Oklahoma City. “

CSI Compressco (NASDAQ:CCLP) opened at 10.02 on Monday. CSI Compressco has a 12 month low of $3.74 and a 12 month high of $15.27. The firm’s market capitalization is $332.93 million. The company’s 50-day moving average price is $9.57 and its 200 day moving average price is $8.21.

CSI Compressco (NASDAQ:CCLP) last announced its earnings results on Friday, August 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. The company had revenue of $76.10 million for the quarter, compared to the consensus estimate of $81.70 million. CSI Compressco had a negative return on equity of 6.41% and a negative net margin of 67.25%. On average, equities research analysts predict that CSI Compressco will post ($0.37) earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its stake in shares of CSI Compressco by 191.8% in the second quarter. FMR LLC now owns 637,190 shares of the company’s stock worth $5,199,000 after buying an additional 418,800 shares during the last quarter. WealthTrust Axiom LLC raised its stake in shares of CSI Compressco by 1.5% in the second quarter. WealthTrust Axiom LLC now owns 195,800 shares of the company’s stock worth $1,597,000 after buying an additional 2,850 shares during the last quarter. ING Groep NV purchased a new stake in shares of CSI Compressco during the first quarter worth approximately $609,000. Mariner Wealth Advisors LLC raised its stake in shares of CSI Compressco by 23.6% in the second quarter. Mariner Wealth Advisors LLC now owns 68,000 shares of the company’s stock worth $555,000 after buying an additional 13,000 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of CSI Compressco during the first quarter worth approximately $328,000. 29.01% of the stock is owned by hedge funds and other institutional investors.

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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