Zacks Investment Research upgraded shares of CSI Compressco (NASDAQ:CCLP) from a hold rating to a buy rating in a research note released on Friday morning. The brokerage currently has $4.75 price objective on the oil and gas company’s 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. “

Several other research firms also recently issued reports on CCLP. BidaskClub downgraded CSI Compressco from a hold rating to a sell rating in a research report on Friday, September 7th. Janney Montgomery Scott downgraded CSI Compressco from a buy rating to a neutral rating in a research report on Friday, October 12th. Finally, ValuEngine raised CSI Compressco from a hold rating to a buy rating in a research report on Tuesday, August 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $6.58.

Shares of CCLP stock traded up $0.03 during trading hours on Friday, reaching $4.21. 174,272 shares of the company’s stock were exchanged, compared to its average volume of 157,367. The company has a market cap of $187.46 million, a PE ratio of -3.60 and a beta of 1.52. The company has a current ratio of 1.79, a quick ratio of 1.03 and a debt-to-equity ratio of 9.11. CSI Compressco has a fifty-two week low of $4.09 and a fifty-two week high of $8.05.

CSI Compressco (NASDAQ:CCLP) last issued its quarterly earnings results on Wednesday, November 7th. The oil and gas company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). The business had revenue of $115.26 million for the quarter, compared to analyst estimates of $108.80 million. CSI Compressco had a negative return on equity of 54.97% and a negative net margin of 11.45%. On average, equities analysts forecast that CSI Compressco will post -0.87 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Thursday, November 1st were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 71.26%. This is an increase from CSI Compressco’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Wednesday, October 31st. CSI Compressco’s dividend payout ratio is presently -64.10%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. increased its position in shares of CSI Compressco by 4.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 4,275,136 shares of the oil and gas company’s stock valued at $23,856,000 after acquiring an additional 179,760 shares during the period. Huber Capital Management LLC acquired a new position in shares of CSI Compressco in the 3rd quarter valued at $364,000. WealthTrust Axiom LLC increased its position in shares of CSI Compressco by 41.1% in the 3rd quarter. WealthTrust Axiom LLC now owns 352,500 shares of the oil and gas company’s stock valued at $1,815,000 after acquiring an additional 102,700 shares during the period. Renaissance Technologies LLC increased its position in shares of CSI Compressco by 120.3% in the 2nd quarter. Renaissance Technologies LLC now owns 308,002 shares of the oil and gas company’s stock valued at $1,719,000 after acquiring an additional 168,218 shares during the period. Finally, Hilltop Holdings Inc. increased its position in shares of CSI Compressco by 23.5% in the 2nd quarter. Hilltop Holdings Inc. now owns 97,150 shares of the oil and gas company’s stock valued at $542,000 after acquiring an additional 18,500 shares during the period. 26.17% of the stock is currently owned by hedge funds and other institutional investors.

CSI Compressco Company Profile

CSI Compressco LP provides compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage applications in the United States and internationally. It fabricates and sells standard and custom-designed compressor packages, oilfield fluid pump systems, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration services.

Further Reading: Debt-To-Equity Ratio

Get a free copy of the Zacks research report on CSI Compressco (CCLP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CSI Compressco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSI Compressco and related companies with MarketBeat.com's FREE daily email newsletter.