OCI Partners LP (OCIP) Upgraded to Sell at BidaskClub
BidaskClub upgraded shares of OCI Partners LP (NYSE:OCIP) from a strong sell rating to a sell rating in a research report report published on Saturday morning.
Several other research analysts have also weighed in on OCIP. Citigroup Inc. set a $7.00 target price on OCI Partners and gave the stock a sell rating in a research report on Monday, August 14th. ValuEngine raised OCI Partners from a buy rating to a strong-buy rating in a research report on Friday, August 11th.
Shares of OCI Partners (NYSE:OCIP) traded up $0.25 during mid-day trading on Friday, reaching $7.35. The company’s stock had a trading volume of 7,300 shares, compared to its average volume of 8,099. The company has a current ratio of 0.78, a quick ratio of 0.53 and a debt-to-equity ratio of 3.15. OCI Partners has a 12 month low of $4.95 and a 12 month high of $10.35.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Thursday, November 16th. OCI Partners’s dividend payout ratio is -685.62%.
In related news, insider Nathaniel A. Gregory acquired 10,000 shares of the stock in a transaction dated Friday, September 8th. The shares were acquired at an average price of $8.35 per share, with a total value of $83,500.00. Following the acquisition, the insider now owns 10,000 shares in the company, valued at approximately $83,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Citadel Advisors LLC acquired a new position in shares of OCI Partners during the 3rd quarter valued at about $269,000. Cowen Inc. grew its holdings in OCI Partners by 117.9% in the 2nd quarter. Cowen Inc. now owns 208,420 shares of the basic materials company’s stock valued at $1,845,000 after buying an additional 112,750 shares during the last quarter. Bard Associates Inc. grew its holdings in OCI Partners by 1.0% in the 2nd quarter. Bard Associates Inc. now owns 144,400 shares of the basic materials company’s stock valued at $1,278,000 after buying an additional 1,500 shares during the last quarter. Quinn Opportunity Partners LLC grew its holdings in OCI Partners by 32.1% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 55,985 shares of the basic materials company’s stock valued at $495,000 after buying an additional 13,600 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in OCI Partners by 13.9% in the 1st quarter. Renaissance Technologies LLC now owns 60,608 shares of the basic materials company’s stock valued at $606,000 after buying an additional 7,418 shares during the last quarter. 14.98% of the stock is currently owned by institutional investors and hedge funds.
About OCI Partners
OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is located on the Texas Gulf Coast near Beaumont. The Company has an annual methanol production capacity of approximately 912,500 metric tons and an annual ammonia production capacity of approximately 331,000 metric tons.
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