CSI Compressco LP (CCLP) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of CSI Compressco LP (NASDAQ:CCLP) from a sell rating to a buy rating in a research note issued to investors on Wednesday. The firm currently has $12.00 price target on the stock.
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. “
Separately, Janney Montgomery Scott upgraded CSI Compressco from a neutral rating to a buy rating and increased their target price for the stock from $10.00 to $12.00 in a report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $10.25.
CSI Compressco (NASDAQ:CCLP) opened at 10.88 on Wednesday. The firm’s market cap is $361.51 million. The stock has a 50 day moving average price of $9.97 and a 200-day moving average price of $8.67. CSI Compressco has a one year low of $3.74 and a one year high of $14.97.
CSI Compressco (NASDAQ:CCLP) last announced its earnings results on Friday, August 5th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by $0.03. The business 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%. Analysts predict that CSI Compressco will post ($0.48) EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of CCLP. WealthTrust Axiom LLC boosted its position in CSI Compressco by 1.5% in the second quarter. WealthTrust Axiom LLC now owns 195,800 shares of the company’s stock valued at $1,597,000 after buying an additional 2,850 shares in the last quarter. Mariner Wealth Advisors LLC boosted its position 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 period. KCG Holdings Inc. bought a new position in shares of CSI Compressco during the second quarter worth about $179,000. GSA Capital Partners LLP bought a new position in shares of CSI Compressco during the second quarter worth about $243,000. Finally, Renaissance Technologies LLC bought a new position in shares of CSI Compressco during the first quarter worth about $328,000. Institutional investors and hedge funds own 29.01% of the company’s stock.
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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