BidaskClub cut shares of CSI Compressco (NASDAQ:CCLP) from a hold rating to a sell rating in a research report sent to investors on Friday.

Several other equities analysts have also issued reports on the company. ValuEngine raised CSI Compressco from a sell rating to a hold rating in a report on Friday, June 1st. Zacks Investment Research lowered CSI Compressco from a hold rating to a sell rating in a report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $7.00.

CCLP stock opened at $5.51 on Friday. The company has a market capitalization of $235.07 million, a PE ratio of -4.71 and a beta of 1.60. The company has a debt-to-equity ratio of 8.65, a current ratio of 2.31 and a quick ratio of 1.50. CSI Compressco has a 12-month low of $4.51 and a 12-month high of $8.05.

CSI Compressco (NASDAQ:CCLP) last released its earnings results on Wednesday, August 8th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.01). The business had revenue of $99.92 million during the quarter, compared to the consensus estimate of $91.13 million. CSI Compressco had a negative net margin of 12.89% and a negative return on equity of 51.34%. analysts anticipate that CSI Compressco will post -0.88 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Wednesday, August 1st were issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 13.61%. The ex-dividend date was Tuesday, July 31st. CSI Compressco’s dividend payout ratio is presently -64.10%.

Hedge funds have recently added to or reduced their stakes in the company. Hilltop Holdings Inc. lifted its stake in CSI Compressco by 23.5% in the second quarter. Hilltop Holdings Inc. now owns 97,150 shares of the oil and gas company’s stock valued at $542,000 after purchasing an additional 18,500 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in CSI Compressco by 4.4% in the second quarter. OppenheimerFunds Inc. now owns 4,275,136 shares of the oil and gas company’s stock valued at $23,856,000 after purchasing an additional 179,760 shares during the last quarter. Renaissance Technologies LLC lifted its stake in CSI Compressco by 120.3% in the second quarter. Renaissance Technologies LLC now owns 308,002 shares of the oil and gas company’s stock valued at $1,719,000 after purchasing an additional 168,218 shares during the last quarter. FMR LLC lifted its stake in CSI Compressco by 17.9% in the second quarter. FMR LLC now owns 1,418,587 shares of the oil and gas company’s stock valued at $7,916,000 after purchasing an additional 215,651 shares during the last quarter. Finally, Penn Capital Management Co. Inc. purchased a new position in CSI Compressco in the first quarter valued at approximately $120,000. 26.04% of the stock is owned by 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.

See Also: Return on Equity (ROE)

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