CSI Compressco (NASDAQ:CCLP) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of CSI Compressco (NASDAQ:CCLP) in a research report report published on Monday morning. The brokerage issued a buy rating on the oil and gas company’s stock.

CSI Compressco Stock Performance

NASDAQ:CCLP opened at $2.42 on Monday. The company has a market capitalization of $344.85 million, a P/E ratio of -34.57 and a beta of 0.75. The stock’s 50 day moving average price is $2.22 and its 200 day moving average price is $1.83. CSI Compressco has a 52 week low of $1.04 and a 52 week high of $2.44.

CSI Compressco (NASDAQ:CCLP) last announced its quarterly earnings results on Friday, March 1st. The oil and gas company reported ($0.02) EPS for the quarter. The firm had revenue of $98.27 million for the quarter.

Institutional Trading of CSI Compressco

A number of institutional investors and hedge funds have recently made changes to their positions in CCLP. Raymond James Financial Services Advisors Inc. bought a new position in shares of CSI Compressco in the 3rd quarter valued at approximately $49,000. PenderFund Capital Management Ltd. bought a new position in shares of CSI Compressco in the fourth quarter valued at approximately $135,000. Crystalline Management Inc. acquired a new stake in shares of CSI Compressco in the fourth quarter worth $29,000. Finally, King Luther Capital Management Corp bought a new stake in shares of CSI Compressco during the 4th quarter worth $204,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

About CSI Compressco

CSI Compressco LP provides contract services for natural gas compression and treating in the United States, Latin America, Canada, Egypt, and internationally. The company offers natural gas compression services through low-, medium-, and high-horsepower compressor packages for oil and natural gas production, gathering, artificial lift, transmission, processing, and storage.