CSI Compressco LP (CCLP) Rating Reiterated by Royal Bank Of Canada
CSI Compressco LP (NASDAQ:CCLP)‘s stock had its “hold” rating reaffirmed by research analysts at Royal Bank Of Canada in a note issued to investors on Monday. They currently have a $8.00 price objective on the oil and gas company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 75.05% from the stock’s previous close.
A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut CSI Compressco from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th. Stifel Nicolaus cut their target price on CSI Compressco from $9.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, May 10th. Finally, Capital One Financial Corporation reiterated an “equal weight” rating on shares of CSI Compressco in a research note on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $9.25.
CSI Compressco (CCLP) opened at 4.57 on Monday. CSI Compressco has a 12 month low of $4.12 and a 12 month high of $13.54.
CSI Compressco (NASDAQ:CCLP) last posted its earnings results on Tuesday, August 8th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.04. The company had revenue of $75.32 million for the quarter, compared to analysts’ expectations of $66.64 million. CSI Compressco had a negative return on equity of 36.43% and a negative net margin of 17.01%. On average, analysts predict that CSI Compressco will post ($1.10) EPS for the current year.
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Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in shares of CSI Compressco by 77.0% in the fourth quarter. Renaissance Technologies LLC now owns 38,593 shares of the oil and gas company’s stock worth $376,000 after buying an additional 16,793 shares in the last quarter. Texas Yale Capital Corp. boosted its stake in shares of CSI Compressco by 75.0% in the first quarter. Texas Yale Capital Corp. now owns 35,000 shares of the oil and gas company’s stock worth $343,000 after buying an additional 15,000 shares in the last quarter. Parkwood LLC boosted its stake in shares of CSI Compressco by 1.8% in the first quarter. Parkwood LLC now owns 65,721 shares of the oil and gas company’s stock worth $644,000 after buying an additional 1,180 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted 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 in the last quarter. Finally, OppenheimerFunds Inc. boosted 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 in the last quarter. Institutional investors and hedge funds own 28.24% of the company’s stock.
About CSI Compressco
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.
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