Capital One Financial Weighs in on CSI Compressco LP’s Q3 2019 Earnings (NASDAQ:CCLP)

CSI Compressco LP (NASDAQ:CCLP) – Equities research analysts at Capital One Financial dropped their Q3 2019 earnings estimates for CSI Compressco in a research report issued on Thursday, August 8th. Capital One Financial analyst K. May now forecasts that the oil and gas company will post earnings of ($0.04) per share for the quarter, down from their prior estimate of ($0.03). Capital One Financial also issued estimates for CSI Compressco’s Q4 2019 earnings at $0.00 EPS, FY2019 earnings at ($0.32) EPS, Q1 2020 earnings at ($0.01) EPS, Q3 2020 earnings at $0.01 EPS, Q4 2020 earnings at $0.02 EPS and FY2020 earnings at $0.03 EPS.

Several other equities research analysts also recently weighed in on the stock. ValuEngine raised shares of CSI Compressco from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of CSI Compressco from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $3.50.

CCLP stock opened at $3.40 on Monday. The firm has a market capitalization of $163.33 million, a P/E ratio of -3.95 and a beta of 1.96. The business has a 50-day moving average of $3.54. CSI Compressco has a fifty-two week low of $2.10 and a fifty-two week high of $6.29. The company has a quick ratio of 0.65, a current ratio of 1.24 and a debt-to-equity ratio of 11.06.

CSI Compressco (NASDAQ:CCLP) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. The business had revenue of $135.86 million during the quarter, compared to the consensus estimate of $134.36 million. CSI Compressco had a negative net margin of 5.49% and a negative return on equity of 37.78%.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, July 31st. CSI Compressco’s payout ratio is -4.65%.

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its holdings in CSI Compressco by 8.3% in the 4th quarter. FMR LLC now owns 1,710,863 shares of the oil and gas company’s stock valued at $3,969,000 after acquiring an additional 130,809 shares during the last quarter. Wiley BROS. Aintree Capital LLC lifted its holdings in CSI Compressco by 15.9% in the 2nd quarter. Wiley BROS. Aintree Capital LLC now owns 337,319 shares of the oil and gas company’s stock valued at $1,194,000 after acquiring an additional 46,175 shares during the last quarter. Lapides Asset Management LLC lifted its holdings in CSI Compressco by 15.7% in the 2nd quarter. Lapides Asset Management LLC now owns 41,900 shares of the oil and gas company’s stock valued at $148,000 after acquiring an additional 5,700 shares during the last quarter. Marshall Wace LLP acquired a new stake in CSI Compressco in the 1st quarter valued at about $76,000. Finally, Wells Fargo & Company MN lifted its holdings in CSI Compressco by 13.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,254,531 shares of the oil and gas company’s stock valued at $4,441,000 after acquiring an additional 148,501 shares during the last quarter. 29.18% of the stock is owned by institutional investors.

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

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Earnings History and Estimates for CSI Compressco (NASDAQ:CCLP)

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