OCI Partners LP (OCIP) Rating Increased to Hold at TheStreet
OCI Partners LP (NYSE:OCIP) was upgraded by TheStreet from a “sell” rating to a “hold” rating in a research note issued on Monday.
Separately, Citigroup Inc. lowered their target price on OCI Partners from $8.00 to $6.50 and set a “neutral” rating on the stock in a research note on Monday, August 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. OCI Partners presently has a consensus rating of “Hold” and a consensus target price of $8.33.
OCI Partners (NYSE:OCIP) remained flat at $6.00 during trading on Monday. 25,292 shares of the company’s stock traded hands. The firm’s 50-day moving average is $5.91 and its 200-day moving average is $6.87. OCI Partners has a 1-year low of $5.46 and a 1-year high of $10.86. The firm has a market cap of $521.98 million, a P/E ratio of 32.26 and a beta of 1.17.
OCI Partners (NYSE:OCIP) last announced its earnings results on Friday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by $0.04. OCI Partners had a return on equity of 7.34% and a net margin of 5.07%. On average, equities research analysts predict that OCI Partners will post ($0.42) earnings per share for the current year.
In related news, insider Nassef Sawiris purchased 36,100 shares of OCI Partners stock in a transaction that occurred on Tuesday, September 13th. The shares were acquired at an average price of $6.04 per share, with a total value of $218,044.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
A number of large investors have recently modified their holdings of OCIP. Citigroup Inc. increased its stake in shares of OCI Partners by 197.4% in the second quarter. Citigroup Inc. now owns 27,206 shares of the company’s stock worth $205,000 after buying an additional 18,057 shares in the last quarter. Credit Capital Investments LLC increased its stake in shares of OCI Partners by 655.0% in the second quarter. Credit Capital Investments LLC now owns 596,487 shares of the company’s stock worth $596,000 after buying an additional 517,482 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of OCI Partners by 293.7% in the first quarter. Renaissance Technologies LLC now owns 116,178 shares of the company’s stock worth $878,000 after buying an additional 86,670 shares in the last quarter. Finally, ING Groep NV acquired a new stake in shares of OCI Partners during the first quarter worth $140,000. 13.80% of the stock is currently owned by institutional investors and hedge funds.
About OCI Partners
OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is located on the Texas Gulf Coast near Beaumont. The Company has an annual methanol production capacity of approximately 912,500 metric tons and an annual ammonia production capacity of approximately 331,000 metric tons.
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