CSI Compressco LP (CCLP) Given Consensus Recommendation of “Hold” by Brokerages
CSI Compressco LP (NASDAQ:CCLP) has received an average recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $7.50.
CCLP has been the subject of a number of recent research reports. Stifel Nicolaus cut their target price on shares of CSI Compressco from $9.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, May 10th. Zacks Investment Research downgraded CSI Compressco from a “hold” rating to a “sell” rating in a research report on Thursday, May 25th. Capital One Financial Corporation reiterated an “equal weight” rating on shares of CSI Compressco in a research report on Tuesday, August 8th. Royal Bank Of Canada reiterated a “hold” rating and set a $8.00 target price on shares of CSI Compressco in a research report on Monday, August 21st. Finally, Bank of America Corporation decreased their target price on CSI Compressco from $6.50 to $5.00 and set an “underperform” rating for the company in a research report on Wednesday, August 23rd.
A number of hedge funds and other institutional investors have recently made changes to their positions in CCLP. OppenheimerFunds Inc. increased its position in shares of CSI Compressco by 1.8% in the first quarter. OppenheimerFunds Inc. now owns 3,050,772 shares of the oil and gas company’s stock valued at $29,898,000 after buying an additional 54,809 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of CSI Compressco by 77.0% in the fourth quarter. Renaissance Technologies LLC now owns 38,593 shares of the oil and gas company’s stock valued at $376,000 after buying an additional 16,793 shares during the last quarter. Parkwood LLC boosted its stake in shares of CSI Compressco by 69.8% in the second quarter. Parkwood LLC now owns 111,621 shares of the oil and gas company’s stock valued at $541,000 after buying an additional 45,900 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of CSI Compressco during the first quarter valued at approximately $136,000. Finally, Robotti Robert boosted its stake in shares of CSI Compressco by 38.6% in the first quarter. Robotti Robert now owns 32,320 shares of the oil and gas company’s stock valued at $317,000 after buying an additional 9,000 shares during the last quarter. 28.69% of the stock is owned by institutional investors.
Shares of CSI Compressco (NASDAQ:CCLP) traded down 2.77% on Wednesday, reaching $4.56. 36,579 shares of the company were exchanged. CSI Compressco has a 12-month low of $4.12 and a 12-month high of $13.54.
CSI Compressco (NASDAQ:CCLP) last released its earnings results on Tuesday, August 8th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.04. CSI Compressco had a negative net margin of 17.01% and a negative return on equity of 36.43%. The company had revenue of $75.32 million during the quarter, compared to analyst estimates of $66.64 million. Equities research analysts expect that CSI Compressco will post ($1.10) earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Tuesday, August 1st were issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 15.99%. The ex-dividend date was Friday, July 28th. CSI Compressco’s payout ratio is presently -50.00%.
CSI Compressco Company Profile
CSI Compressco LP 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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