CSI Compressco LP (CCLP) Receives Average Recommendation of “Hold” from Brokerages

Shares of CSI Compressco LP (NASDAQ:CCLP) have received a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $4.88.

Several brokerages have weighed in on CCLP. Zacks Investment Research cut shares of CSI Compressco from a “buy” rating to a “hold” rating in a research report on Wednesday, November 14th. Raymond James cut shares of CSI Compressco from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 13th.

In related news, President Owen Serjeant bought 22,700 shares of the company’s stock in a transaction dated Thursday, December 27th. The stock was purchased at an average cost of $2.14 per share, with a total value of $48,578.00. Following the transaction, the president now owns 165,168 shares in the company, valued at approximately $353,459.52. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.36% of the company’s stock.

Several large investors have recently bought and sold shares of CCLP. FMR LLC lifted its position in shares of CSI Compressco by 17.9% in the 2nd quarter. FMR LLC now owns 1,418,587 shares of the oil and gas company’s stock worth $7,916,000 after purchasing an additional 215,651 shares during the period. OppenheimerFunds Inc. lifted its position in CSI Compressco by 4.4% during the 2nd quarter. OppenheimerFunds Inc. now owns 4,275,136 shares of the oil and gas company’s stock valued at $23,856,000 after acquiring an additional 179,760 shares during the period. Renaissance Technologies LLC lifted its position in CSI Compressco by 120.3% during the 2nd quarter. Renaissance Technologies LLC now owns 308,002 shares of the oil and gas company’s stock valued at $1,719,000 after acquiring an additional 168,218 shares during the period. WealthTrust Axiom LLC lifted its position in CSI Compressco by 41.1% during the 3rd quarter. WealthTrust Axiom LLC now owns 352,500 shares of the oil and gas company’s stock valued at $1,815,000 after acquiring an additional 102,700 shares during the period. Finally, Huber Capital Management LLC purchased a new position in CSI Compressco during the 3rd quarter valued at about $364,000. 26.17% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:CCLP traded down $0.04 during trading on Friday, reaching $2.95. The company had a trading volume of 1,868 shares, compared to its average volume of 330,024. The firm has a market capitalization of $133.64 million, a price-to-earnings ratio of -2.52 and a beta of 2.01. CSI Compressco has a 12 month low of $2.10 and a 12 month high of $8.05. The company has a debt-to-equity ratio of 9.11, a current ratio of 1.79 and a quick ratio of 1.03.

CSI Compressco (NASDAQ:CCLP) last released its earnings results on Wednesday, November 7th. The oil and gas company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.04). CSI Compressco had a negative net margin of 11.45% and a negative return on equity of 54.97%. The business had revenue of $115.26 million for the quarter, compared to the consensus estimate of $108.80 million. As a group, equities research analysts expect that CSI Compressco will post -0.86 EPS for the current year.

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

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