CSI Compressco LP (CCLP) Raised to “Sell” at ValuEngine

ValuEngine upgraded shares of CSI Compressco LP (NASDAQ:CCLP) from a strong sell rating to a sell rating in a report released on Thursday morning.

A number of other research analysts also recently commented on CCLP. Capital One Financial Corporation reaffirmed an equal weight rating on shares of CSI Compressco in a research note on Tuesday, August 8th. Royal Bank Of Canada reaffirmed a hold rating and set a $8.00 price objective on shares of CSI Compressco in a research note on Monday, August 21st. Bank of America Corporation dropped their price objective 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. Stifel Nicolaus set a $5.00 price objective on shares of CSI Compressco and gave the company a hold rating in a research note on Friday, August 25th. Finally, Zacks Investment Research downgraded shares of CSI Compressco from a hold rating to a sell rating in a research note on Tuesday, October 10th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. CSI Compressco presently has an average rating of Hold and a consensus price target of $5.33.

CSI Compressco (NASDAQ:CCLP) traded down $0.11 during midday trading on Thursday, hitting $5.49. 149,700 shares of the stock were exchanged, compared to its average volume of 153,769. CSI Compressco has a one year low of $4.12 and a one year high of $13.54. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.75 and a quick ratio of 1.08.

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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Wednesday, November 1st will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 13.66%. The ex-dividend date is Tuesday, October 31st. CSI Compressco’s dividend payout ratio (DPR) is presently -60.00%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu KCG Holdings LLC acquired a new stake in CSI Compressco during the 2nd quarter worth approximately $146,000. Aegis Financial Corp increased its position in CSI Compressco by 22.0% during the 2nd quarter. Aegis Financial Corp now owns 61,000 shares of the oil and gas company’s stock worth $296,000 after purchasing an additional 11,000 shares in the last quarter. Parkwood LLC increased its position in CSI Compressco by 69.8% during the 2nd quarter. Parkwood LLC now owns 111,621 shares of the oil and gas company’s stock worth $541,000 after purchasing an additional 45,900 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in CSI Compressco by 9.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 122,770 shares of the oil and gas company’s stock worth $640,000 after purchasing an additional 10,232 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in CSI Compressco by 99.3% during the 1st quarter. Renaissance Technologies LLC now owns 76,912 shares of the oil and gas company’s stock worth $754,000 after purchasing an additional 38,319 shares in the last quarter. 28.66% of the stock is owned by hedge funds and other institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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