CSI Compressco LP (CCLP) Trading 5.5% Higher
CSI Compressco LP (NASDAQ:CCLP) traded up 5.5% during trading on Thursday . The stock traded as high as $9.39 and last traded at $9.28, with a volume of 164,268 shares traded. The stock had previously closed at $8.80.
Separately, Zacks Investment Research upgraded shares of CSI Compressco from a “sell” rating to a “hold” rating in a research report on Friday, May 20th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.00.
The firm’s market cap is $315.58 million. The company has a 50 day moving average of $8.48 and a 200-day moving average of $7.26.
CSI Compressco (NASDAQ:CCLP) last announced its quarterly earnings data 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 earned $76.10 million during the quarter, compared to analysts’ expectations of $81.70 million. Equities research analysts anticipate that CSI Compressco LP will post ($0.41) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 1st will be paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 15.89%. The ex-dividend date is Thursday, July 28th.
An institutional investor recently raised its position in CSI Compressco stock. Advisors Asset Management Inc. increased its stake in CSI Compressco LP (NASDAQ:CCLP) by 22.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 157,335 shares of the company’s stock after buying an additional 29,116 shares during the period. Advisors Asset Management Inc. owned 0.47% of CSI Compressco worth $1,794,000 at the end of the most recent reporting period.
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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