CSI Compressco (CCLP) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of CSI Compressco (NASDAQ:CCLP) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “CSI Compressco LP offers compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. Its equipment and parts sales business includes the fabrication and sale of standard compressor packages, custom-designed compressor packages and engine-driven oilfield fluid pump systems designed. The company offers well monitoring and automated sand separation services as well as compressor package reconfiguration and maintenance services. CSI Compressco LP, formerly known as Compressco Partners, L.P., is headquartered in Oklahoma City. “

CCLP has been the topic of several other research reports. ValuEngine downgraded CSI Compressco from a buy rating to a hold rating in a research report on Tuesday, September 4th. Janney Montgomery Scott downgraded CSI Compressco from a buy rating to a neutral rating in a research report on Friday, October 12th. Finally, BidaskClub downgraded CSI Compressco from a hold rating to a sell rating in a research report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. CSI Compressco currently has a consensus rating of Hold and a consensus target price of $7.00.

Shares of CSI Compressco stock traded down $0.08 on Tuesday, hitting $5.00. The stock had a trading volume of 1,000 shares, compared to its average volume of 127,903. CSI Compressco has a twelve month low of $4.51 and a twelve month high of $8.05. The company has a current ratio of 2.31, a quick ratio of 1.50 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $226.55 million, a price-to-earnings ratio of -4.28 and a beta of 1.59.

CSI Compressco (NASDAQ:CCLP) last posted its earnings results on Wednesday, August 8th. The oil and gas company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.01). CSI Compressco had a negative net margin of 12.89% and a negative return on equity of 51.34%. The firm had revenue of $99.92 million during the quarter, compared to analyst estimates of $91.13 million. As a group, equities research analysts predict that CSI Compressco will post -0.88 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of CCLP. FMR LLC boosted its stake in shares of CSI Compressco by 17.9% in the second quarter. FMR LLC now owns 1,418,587 shares of the oil and gas company’s stock valued at $7,916,000 after buying an additional 215,651 shares during the period. Wells Fargo & Company MN boosted its stake in shares of CSI Compressco by 25.8% in the first quarter. Wells Fargo & Company MN now owns 960,222 shares of the oil and gas company’s stock valued at $6,972,000 after buying an additional 196,936 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of CSI Compressco by 4.4% in the second quarter. OppenheimerFunds Inc. now owns 4,275,136 shares of the oil and gas company’s stock valued at $23,856,000 after buying an additional 179,760 shares during the period. Renaissance Technologies LLC boosted its stake in shares of CSI Compressco by 120.3% in the second quarter. Renaissance Technologies LLC now owns 308,002 shares of the oil and gas company’s stock valued at $1,719,000 after buying an additional 168,218 shares during the period. Finally, Hilltop Holdings Inc. boosted its stake in shares of CSI Compressco by 23.5% in the second quarter. Hilltop Holdings Inc. now owns 97,150 shares of the oil and gas company’s stock valued at $542,000 after buying an additional 18,500 shares during the period. Institutional investors and hedge funds own 26.04% of the company’s stock.

About CSI Compressco

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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