CSI Compressco LP (CCLP) Receives Consensus Rating of “Hold” from Analysts
CSI Compressco LP (NASDAQ:CCLP) has earned an average rating of “Hold” from the eight brokerages that are currently covering the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $9.67.
Several research firms have weighed in on CCLP. Zacks Investment Research cut CSI Compressco from a “buy” rating to a “hold” rating in a research report on Wednesday, October 19th. Janney Montgomery Scott raised CSI Compressco from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $12.00 in a research report on Friday, September 23rd.
Institutional investors have recently made changes to their positions in the company. WealthTrust Axiom LLC raised its position in shares of CSI Compressco by 1.5% in the second quarter. WealthTrust Axiom LLC now owns 195,800 shares of the company’s stock worth $1,597,000 after buying an additional 2,850 shares during the last quarter. Morgan Stanley raised its position in shares of CSI Compressco by 19.6% in the third quarter. Morgan Stanley now owns 31,721 shares of the company’s stock worth $336,000 after buying an additional 5,195 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of CSI Compressco by 80.8% in the third quarter. Raymond James Trust N.A. now owns 26,850 shares of the company’s stock worth $284,000 after buying an additional 12,000 shares during the last quarter. Mariner Wealth Advisors LLC raised its position in shares of CSI Compressco by 23.6% in the second quarter. Mariner Wealth Advisors LLC now owns 68,000 shares of the company’s stock worth $555,000 after buying an additional 13,000 shares during the last quarter. Finally, KCG Holdings Inc. purchased a new position in shares of CSI Compressco during the second quarter worth $179,000. Institutional investors own 29.17% of the company’s stock.
CSI Compressco (NASDAQ:CCLP) opened at 10.01 on Thursday. The firm has a 50 day moving average of $0.00 and a 200-day moving average of $0.00.
CSI Compressco (NASDAQ:CCLP) last posted its quarterly earnings data on Friday, November 4th. The company reported ($0.47) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.35. The firm had revenue of $70.70 million for the quarter, compared to the consensus estimate of $79.20 million. CSI Compressco had a negative net margin of 84.56% and a negative return on equity of 16.49%. Equities research analysts anticipate that CSI Compressco will post ($0.62) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Tuesday, November 1st were given a $0.3775 dividend. The ex-dividend date of this dividend was Friday, October 28th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 15.08%. CSI Compressco’s dividend payout ratio is currently -18.44%.
CSI Compressco Company Profile
CSI Compressco LP, formerly Compressco Partners, L.P., 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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