OCI Partners LP (OCIP) Rating Increased to Hold at TheStreet
OCI Partners LP (NYSE:OCIP) was upgraded by investment analysts at TheStreet from a “sell” rating to a “hold” rating in a research note issued on Monday.
Separately, Citigroup Inc. reduced their price objective on OCI Partners from $8.00 to $6.50 and set a “neutral” rating on the stock in a research note on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.33.
Shares of OCI Partners (NYSE:OCIP) remained flat at $6.00 on Monday. The company’s stock had a trading volume of 25,292 shares. The stock’s 50 day moving average is $5.91 and its 200 day moving average is $6.87. The firm has a market cap of $521.98 million, a P/E ratio of 32.26 and a beta of 1.17. OCI Partners has a one year low of $5.46 and a one year high of $10.86.
OCI Partners (NYSE:OCIP) last released its earnings results on Friday, August 5th. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by $0.04. OCI Partners had a net margin of 5.07% and a return on equity of 7.34%. On average, equities analysts anticipate that OCI Partners will post ($0.42) EPS for the current year.
In related news, insider Nassef Sawiris bought 198,500 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were purchased at an average cost of $6.04 per share, with a total value of $1,198,940.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. raised its position in shares of OCI Partners by 197.4% in the second quarter. Citigroup Inc. now owns 27,206 shares of the company’s stock worth $205,000 after buying an additional 18,057 shares during the period. Credit Capital Investments LLC raised its position in shares of OCI Partners by 655.0% in the second quarter. Credit Capital Investments LLC now owns 596,487 shares of the company’s stock worth $596,000 after buying an additional 517,482 shares during the period. Renaissance Technologies LLC raised its position in shares of OCI Partners by 293.7% in the first quarter. Renaissance Technologies LLC now owns 116,178 shares of the company’s stock worth $878,000 after buying an additional 86,670 shares during the period. Finally, ING Groep NV acquired a new position in shares of OCI Partners during the first quarter worth approximately $140,000. 13.80% of the stock is currently owned by institutional investors.
OCI Partners Company Profile
OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is located on the Texas Gulf Coast near Beaumont. The Company has an annual methanol production capacity of approximately 912,500 metric tons and an annual ammonia production capacity of approximately 331,000 metric tons.
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