Shares of CSI Compressco LP (NASDAQ:CCLP) have been given a consensus recommendation of “Hold” by the six brokerages that are presently covering the firm, MarketBeat.com reports. One research 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 twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $7.50.
Several equities research analysts have recently issued reports on CCLP shares. Zacks Investment Research downgraded shares of CSI Compressco from a “hold” rating to a “sell” rating in a research report on Thursday, May 25th. Bank of America Corporation lowered 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 report on Wednesday, August 23rd. Stifel Nicolaus set a $5.00 price objective on shares of CSI Compressco and gave the stock a “hold” rating in a research report on Friday, August 25th. Royal Bank Of Canada reissued a “hold” rating and set a $8.00 price objective on shares of CSI Compressco in a research report on Monday, August 21st. Finally, Capital One Financial Corporation reissued an “equal weight” rating on shares of CSI Compressco in a research report on Tuesday, August 8th.
Shares of CSI Compressco (NASDAQ:CCLP) traded up 2.47% during midday trading on Friday, hitting $4.97. 55,353 shares of the company’s stock were exchanged. CSI Compressco has a 52 week low of $4.12 and a 52 week high of $13.54.
CSI Compressco (NASDAQ:CCLP) last issued its quarterly earnings data on Tuesday, August 8th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.04. CSI Compressco had a negative net margin of 17.01% and a negative return on equity of 36.43%. The company had revenue of $75.32 million during the quarter, compared to the consensus estimate of $66.64 million. On average, equities research analysts anticipate that CSI Compressco will post ($1.10) earnings per share for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in CCLP. FMR LLC boosted its holdings in CSI Compressco by 91.7% during the second quarter. FMR LLC now owns 1,353,231 shares of the oil and gas company’s stock worth $6,563,000 after purchasing an additional 647,176 shares during the last quarter. Airain ltd acquired a new position in CSI Compressco during the second quarter worth $796,000. OppenheimerFunds Inc. boosted its holdings in CSI Compressco by 1.8% during the first quarter. OppenheimerFunds Inc. now owns 3,050,772 shares of the oil and gas company’s stock worth $29,898,000 after purchasing an additional 54,809 shares during the last quarter. Parkwood LLC boosted its holdings in CSI Compressco by 69.8% during the second 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 during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in CSI Compressco by 99.3% during the first 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 during the last quarter. Institutional investors and hedge funds own 28.67% of the company’s stock.
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.
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