Fmr LLC Increases Holdings in CSI Compressco LP (CCLP)
Fmr LLC boosted its stake in CSI Compressco LP (NASDAQ:CCLP) by 91.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,353,231 shares of the oil and gas company’s stock after acquiring an additional 647,176 shares during the period. Fmr LLC owned 3.92% of CSI Compressco worth $6,563,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in CCLP. Airain ltd bought a new stake in CSI Compressco in the second quarter worth about $796,000. Parkwood LLC raised its position in CSI Compressco by 69.8% in the second quarter. Parkwood LLC now owns 111,621 shares of the oil and gas company’s stock worth $541,000 after acquiring an additional 45,900 shares during the period. Renaissance Technologies LLC raised its position in CSI Compressco by 99.3% in the first quarter. Renaissance Technologies LLC now owns 76,912 shares of the oil and gas company’s stock worth $754,000 after acquiring an additional 38,319 shares during the period. WealthTrust Axiom LLC raised its position in CSI Compressco by 13.8% in the second quarter. WealthTrust Axiom LLC now owns 235,575 shares of the oil and gas company’s stock worth $1,142,000 after acquiring an additional 28,516 shares during the period. Finally, Citadel Advisors LLC bought a new stake in CSI Compressco in the first quarter worth about $136,000. 28.63% of the stock is currently owned by institutional investors and hedge funds.
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CSI Compressco (NASDAQ:CCLP) last posted its quarterly earnings data on Tuesday, August 8th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.04. The company had revenue of $75.32 million for the quarter, compared to the consensus estimate of $66.64 million. CSI Compressco had a negative net margin of 17.01% and a negative return on equity of 36.43%.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Wednesday, November 1st will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 15.92%. The ex-dividend date is Tuesday, October 31st. CSI Compressco’s payout ratio is -50.00%.
Several analysts have recently issued reports on the stock. Capital One Financial Corporation reissued an “equal weight” rating on shares of CSI Compressco in a research report on Tuesday, August 8th. Zacks Investment Research raised shares of CSI Compressco from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada reissued a “hold” rating and issued a $8.00 price target on shares of CSI Compressco in a research report on Monday, August 21st. Stifel Nicolaus set a $5.00 price target on shares of CSI Compressco and gave the company a “hold” rating in a research report on Friday, August 25th. Finally, Bank of America Corporation lowered their price target on shares of CSI Compressco from $6.50 to $5.00 and set an “underperform” rating on the stock in a research report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $6.00.
About CSI Compressco
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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