CSI Compressco LP (NASDAQ:CCLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued 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. CSI Compressco has a 52 week low of $3.74 and a 52 week high of $15.27. The stock has a 50 day moving average of $9.48 and a 200-day moving average of $8.18. The firm’s market cap is $322.63 million.

CSI Compressco (NASDAQ:CCLP) last released its earnings results on Friday, August 5th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by $0.03. CSI Compressco had a negative net margin of 67.25% and a negative return on equity of 6.41%. The firm earned $76.10 million during the quarter, compared to the consensus estimate of $81.70 million. Analysts expect that CSI Compressco will post ($0.37) earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in CCLP. FMR LLC boosted its position 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 position in CSI Compressco during the first quarter valued at $609,000. Renaissance Technologies LLC purchased a new position in CSI Compressco during the first quarter valued at $328,000. Mariner Wealth Advisors LLC purchased a new position in CSI Compressco during the first quarter valued at $317,000. Finally, GSA Capital Partners LLP purchased a new position in CSI Compressco during the second quarter valued at $243,000. 29.01% of the stock is owned by institutional investors and hedge funds.

About CSI Compressco

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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