Zacks Investment Research upgraded shares of CSI Compressco (NASDAQ:CCLP) from a sell rating to a hold rating in a report released on Monday morning, Zacks.com reports.

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. “

Separately, ValuEngine upgraded CSI Compressco from a sell rating to a hold rating in a research report on Thursday, August 1st.

Shares of CCLP stock traded down $0.03 during trading hours on Monday, hitting $2.98. The company had a trading volume of 441 shares, compared to its average volume of 166,763. CSI Compressco has a 12 month low of $2.10 and a 12 month high of $5.97. The firm has a market capitalization of $139.33 million, a price-to-earnings ratio of -3.47 and a beta of 1.94. The firm’s fifty day moving average is $3.23 and its 200 day moving average is $3.20. The company has a debt-to-equity ratio of 11.76, a quick ratio of 0.67 and a current ratio of 1.22.

CSI Compressco (NASDAQ:CCLP) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.01. The business had revenue of $135.86 million for the quarter, compared to analyst estimates of $134.36 million. CSI Compressco had a negative return on equity of 39.24% and a negative net margin of 5.49%. On average, sell-side analysts expect that CSI Compressco will post -0.34 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, July 31st. This represents a $0.04 dividend on an annualized basis and a yield of 1.34%. CSI Compressco’s dividend payout ratio (DPR) is presently -4.65%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lapides Asset Management LLC grew its position in CSI Compressco by 15.7% during the 2nd quarter. Lapides Asset Management LLC now owns 41,900 shares of the oil and gas company’s stock worth $148,000 after acquiring an additional 5,700 shares during the last quarter. Geode Capital Management LLC grew its position in CSI Compressco by 42.7% during the 4th quarter. Geode Capital Management LLC now owns 39,094 shares of the oil and gas company’s stock worth $90,000 after acquiring an additional 11,701 shares during the last quarter. Marshall Wace LLP bought a new position in CSI Compressco in the 1st quarter valued at $76,000. FMR LLC boosted its position in CSI Compressco by 1.9% in the 1st quarter. FMR LLC now owns 1,744,183 shares of the oil and gas company’s stock valued at $4,953,000 after buying an additional 33,320 shares during the last quarter. Finally, WealthTrust Axiom LLC boosted its position in CSI Compressco by 7.9% in the 2nd quarter. WealthTrust Axiom LLC now owns 473,882 shares of the oil and gas company’s stock valued at $1,677,000 after buying an additional 34,632 shares during the last quarter. Institutional investors and hedge funds own 37.37% of the company’s stock.

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, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration.

See Also: Equity Income

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