OCI Partners LP (OCIP) Upgraded at BidaskClub
BidaskClub upgraded shares of OCI Partners LP (NYSE:OCIP) from a sell rating to a hold rating in a report published on Friday.
A number of other brokerages also recently weighed in on OCIP. ValuEngine raised shares of OCI Partners from a buy rating to a strong-buy rating in a report on Friday, August 11th. Citigroup Inc. set a $7.00 price target on shares of OCI Partners and gave the company a sell rating in a report on Monday, August 14th.
OCI Partners (OCIP) opened at 8.35 on Friday. The firm has a 50 day moving average of $8.76 and a 200-day moving average of $9.10. The firm’s market cap is $726.42 million. OCI Partners has a one year low of $4.95 and a one year high of $10.35.
OCI Partners (NYSE:OCIP) last posted its quarterly earnings data on Monday, August 7th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.14. The firm had revenue of $73.97 million for the quarter. OCI Partners had a negative return on equity of 10.52% and a negative net margin of 5.60%. Equities research analysts forecast that OCI Partners will post $0.46 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date of this dividend is Wednesday, August 16th. OCI Partners’s dividend payout ratio (DPR) is presently -252.63%.
A number of hedge funds have recently modified their holdings of OCIP. Cowen Inc. increased its position in OCI Partners by 117.9% in the second quarter. Cowen Inc. now owns 208,420 shares of the basic materials company’s stock worth $1,845,000 after buying an additional 112,750 shares during the last quarter. Bard Associates Inc. increased its position in OCI Partners by 1.0% in the second quarter. Bard Associates Inc. now owns 144,400 shares of the basic materials company’s stock worth $1,278,000 after buying an additional 1,500 shares during the last quarter. Quinn Opportunity Partners LLC increased its position in OCI Partners by 32.1% in the second quarter. Quinn Opportunity Partners LLC now owns 55,985 shares of the basic materials company’s stock worth $495,000 after buying an additional 13,600 shares during the last quarter. Renaissance Technologies LLC increased its position in OCI Partners by 13.9% in the first quarter. Renaissance Technologies LLC now owns 60,608 shares of the basic materials company’s stock worth $606,000 after buying an additional 7,418 shares during the last quarter. Finally, Morgan Stanley increased its position in OCI Partners by 4.3% in the first quarter. Morgan Stanley now owns 10,376,362 shares of the basic materials company’s stock worth $103,764,000 after buying an additional 428,344 shares during the last quarter. 26.96% of the stock is owned by hedge funds and other institutional investors.
About OCI Partners
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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