CSI Compressco LP (CCLP) Cut to Hold at Zacks Investment Research
CSI Compressco LP (NASDAQ:CCLP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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 raised their target price for the stock from $10.00 to $12.00 in a research report on Friday, September 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $10.25.
Shares of CSI Compressco (NASDAQ:CCLP) traded up 0.45% during midday trading on Wednesday, hitting $11.18. The stock had a trading volume of 33,723 shares. The firm’s market capitalization is $371.48 million. CSI Compressco has a one year low of $3.74 and a one year high of $14.83. The firm’s 50-day moving average price is $10.19 and its 200-day moving average price is $8.88.
CSI Compressco (NASDAQ:CCLP) last posted its earnings results on Friday, August 5th. The company reported ($0.14) 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 analysts predict that CSI Compressco will post ($0.48) EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. boosted its stake in CSI Compressco by 80.8% in the third quarter. Raymond James Trust N.A. now owns 26,850 shares of the company’s stock worth $284,000 after buying an additional 12,000 shares in the last quarter. KCG Holdings Inc. purchased a new stake in CSI Compressco during the second quarter valued at approximately $179,000. Mariner Wealth Advisors LLC boosted its stake in CSI Compressco by 23.6% in the second quarter. Mariner Wealth Advisors LLC now owns 68,000 shares of the company’s stock valued at $555,000 after buying an additional 13,000 shares during the period. FMR LLC boosted its stake in CSI Compressco by 191.8% in the second quarter. FMR LLC now owns 637,190 shares of the company’s stock valued at $5,199,000 after buying an additional 418,800 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in CSI Compressco during the second quarter valued at approximately $243,000. 29.04% 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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