Zacks Investment Research cut shares of CSI Compressco LP (NASDAQ:CCLP) from a hold rating to a sell rating in a research report released on Thursday.

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 subject of a number of other reports. Royal Bank of Canada decreased their target price on CSI Compressco from $12.00 to $9.00 and set a sector perform rating for the company in a research report on Monday, April 24th. Stifel Nicolaus decreased their price objective on CSI Compressco from $9.00 to $6.00 and set a hold rating for the company in a report on Wednesday, May 10th.

CSI Compressco (NASDAQ:CCLP) traded up 2.9738% on Thursday, hitting $5.8901. The company had a trading volume of 44,484 shares. The stock’s 50-day moving average price is $7.81 and its 200 day moving average price is $9.66. CSI Compressco has a one year low of $5.57 and a one year high of $13.54. The company’s market capitalization is $203.17 million.

CSI Compressco (NASDAQ:CCLP) last issued its earnings results on Tuesday, May 9th. The oil and gas company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.27. CSI Compressco had a negative net margin of 84.56% and a negative return on equity of 16.49%. The firm had revenue of $65.55 million during the quarter, compared to the consensus estimate of $70.55 million. On average, analysts expect that CSI Compressco will post ($1.06) EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 1st were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 13.11%. The ex-dividend date of this dividend was Thursday, April 27th. CSI Compressco’s payout ratio is -18.44%.

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in shares of CSI Compressco by 99.3% in the first quarter. Renaissance Technologies LLC now owns 76,912 shares of the oil and gas company’s stock worth $754,000 after buying an additional 38,319 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of CSI Compressco during the first quarter worth about $136,000. Robotti Robert increased its stake in shares of CSI Compressco by 38.6% in the first quarter. Robotti Robert now owns 32,320 shares of the oil and gas company’s stock worth $317,000 after buying an additional 9,000 shares during the last quarter. OppenheimerFunds Inc. increased its stake in shares of CSI Compressco by 1.8% in the first quarter. OppenheimerFunds Inc. now owns 3,050,772 shares of the oil and gas company’s stock worth $29,898,000 after buying an additional 54,809 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of CSI Compressco by 9.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 118,916 shares of the oil and gas company’s stock worth $1,165,000 after buying an additional 10,083 shares during the last quarter. 28.95% of the stock is owned by hedge funds and other institutional investors.

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.

12 Month Chart for NASDAQ:CCLP

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