CSI Compressco LP (NASDAQ:CCLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

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. “

CSI Compressco (NASDAQ:CCLP) opened at 9.71 on Monday. The firm’s market capitalization is $322.63 million. The stock has a 50 day moving average of $9.48 and a 200 day moving average of $8.18. CSI Compressco has a 12-month low of $3.74 and a 12-month high of $15.27.

CSI Compressco (NASDAQ:CCLP) last posted 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 firm 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%. Equities research analysts anticipate that CSI Compressco will post ($0.37) earnings per share for the current year.

Several hedge funds have recently bought and sold shares of CCLP. FMR LLC increased 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 in the last quarter. ING Groep NV purchased a new stake in CSI Compressco during the first quarter valued at about $609,000. Renaissance Technologies LLC purchased a new stake in CSI Compressco during the first quarter valued at about $328,000. Mariner Wealth Advisors LLC purchased a new stake in CSI Compressco during the first quarter valued at about $317,000. Finally, GSA Capital Partners LLP purchased a new stake in CSI Compressco during the second quarter valued at about $243,000. 29.01% of the stock is owned by institutional investors and hedge funds.

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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