CSI Compressco (CCLP) Sees Strong Trading Volume

CSI Compressco LP (NASDAQ:CCLP) shares saw strong trading volume on Thursday . 1,352,443 shares were traded during trading, an increase of 724% from the previous session’s volume of 164,129 shares.The stock last traded at $7.16 and had previously closed at $6.28.

Several analysts recently commented on the company. ValuEngine raised CSI Compressco from a “strong sell” rating to a “sell” rating in a report on Friday. Zacks Investment Research lowered CSI Compressco from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Stifel Nicolaus raised their target price on CSI Compressco from $5.00 to $7.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 target price (up from $5.00) on shares of CSI Compressco in a report on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. CSI Compressco has a consensus rating of “Hold” and a consensus price target of $6.00.

The company has a market cap of $301.40, a price-to-earnings ratio of -6.38 and a beta of 2.04. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.75 and a quick ratio of 0.98.

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Thursday, February 1st were issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 9.72%. The ex-dividend date of this dividend was Wednesday, January 31st. CSI Compressco’s dividend payout ratio (DPR) is -61.98%.

A number of institutional investors have recently bought and sold shares of CCLP. FMR LLC grew 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 acquiring an additional 647,176 shares during the period. OppenheimerFunds Inc. grew its holdings in CSI Compressco by 9.8% during the fourth quarter. OppenheimerFunds Inc. now owns 3,627,135 shares of the oil and gas company’s stock worth $19,840,000 after acquiring an additional 324,027 shares during the period. Deutsche Bank AG grew its holdings in CSI Compressco by 60,459.8% during the fourth quarter. Deutsche Bank AG now owns 244,056 shares of the oil and gas company’s stock worth $1,334,000 after acquiring an additional 243,653 shares during the period. Renaissance Technologies LLC acquired a new stake in CSI Compressco during the fourth quarter worth about $1,150,000. Finally, Goldman Sachs Group Inc. grew its holdings in CSI Compressco by 4.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,950,641 shares of the oil and gas company’s stock valued at $16,140,000 after purchasing an additional 131,654 shares during the period. 29.55% of the stock is currently owned by hedge funds and other institutional investors.

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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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