Renaissance Technologies LLC Acquires 38,319 Shares of CSI Compressco LP (CCLP)
Renaissance Technologies LLC raised its position in CSI Compressco LP (NASDAQ:CCLP) by 99.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,912 shares of the oil and gas company’s stock after buying an additional 38,319 shares during the period. Renaissance Technologies LLC owned about 0.23% of CSI Compressco worth $754,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of CCLP. OppenheimerFunds Inc. increased its stake in 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 worth $29,898,000 after buying an additional 54,809 shares during the period. Texas Yale Capital Corp. increased its stake in CSI Compressco by 75.0% in the first quarter. Texas Yale Capital Corp. now owns 35,000 shares of the oil and gas company’s stock worth $343,000 after buying an additional 15,000 shares during the period. Citadel Advisors LLC acquired a new stake in CSI Compressco during the first quarter worth $136,000. Raymond James Financial Services Advisors Inc. increased its stake in CSI Compressco by 9.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 118,916 shares of the oil and gas company’s stock worth $1,165,000 after buying an additional 10,083 shares during the period. Finally, Robotti Robert increased its stake in CSI Compressco by 38.6% in the first quarter. Robotti Robert now owns 32,320 shares of the oil and gas company’s stock worth $317,000 after buying an additional 9,000 shares during the period. 28.69% of the stock is owned by institutional investors and hedge funds.
CSI Compressco LP (CCLP) traded down 2.15% on Tuesday, hitting $4.55. 11,062 shares of the stock traded hands. CSI Compressco LP has a 1-year low of $4.12 and a 1-year high of $13.54.
CSI Compressco (NASDAQ:CCLP) last announced its quarterly earnings results on Tuesday, August 8th. The oil and gas company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.04. CSI Compressco had a negative return on equity of 36.43% and a negative net margin of 17.01%. The company had revenue of $75.32 million during the quarter, compared to analyst estimates of $66.64 million. On average, equities research analysts expect that CSI Compressco LP will post ($1.10) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Tuesday, August 1st were issued a $0.1875 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.75 dividend on an annualized basis and a yield of 16.13%. CSI Compressco’s dividend payout ratio (DPR) is -50.00%.
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A number of equities research analysts recently weighed in on CCLP shares. Zacks Investment Research downgraded shares of CSI Compressco from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th. Stifel Nicolaus lowered their target price on shares of CSI Compressco from $9.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, May 10th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $8.00 target price on shares of CSI Compressco in a research note on Monday, August 21st. Bank of America Corporation lowered their target price on shares of CSI Compressco from $6.50 to $5.00 and set an “underperform” rating for the company in a research note on Wednesday, August 23rd. Finally, Capital One Financial Corporation reaffirmed an “equal weight” rating on shares of CSI Compressco in a research note on Tuesday, August 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. CSI Compressco presently has a consensus rating of “Hold” and an average price target of $8.20.
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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