OCI Partners LP (OCIP) Lifted to Sell at BidaskClub
BidaskClub upgraded shares of OCI Partners LP (NYSE:OCIP) from a strong sell rating to a sell rating in a research note released on Saturday.
Several other equities research analysts also recently commented on the stock. 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 objective on shares of OCI Partners and gave the company a sell rating in a report on Monday, August 14th.
OCI Partners (OCIP) opened at $7.20 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 3.15. OCI Partners has a fifty-two week low of $4.95 and a fifty-two week high of $10.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Thursday, November 16th. OCI Partners’s dividend payout ratio (DPR) is presently -685.62%.
In other OCI Partners news, insider Nathaniel A. Gregory acquired 10,000 shares of the company’s stock in a transaction on Friday, September 8th. The shares were acquired at an average cost of $8.35 per share, with a total value of $83,500.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares in the company, valued at $83,500. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several institutional investors and hedge funds have recently made changes to their positions in OCIP. JPMorgan Chase & Co. bought a new stake in shares of OCI Partners during the first quarter valued at about $440,000. Renaissance Technologies LLC increased its position in shares of OCI Partners by 13.9% during the first quarter. Renaissance Technologies LLC now owns 60,608 shares of the basic materials company’s stock valued at $606,000 after buying an additional 7,418 shares during the period. Quinn Opportunity Partners LLC increased its position in shares of OCI Partners by 32.1% during the second quarter. Quinn Opportunity Partners LLC now owns 55,985 shares of the basic materials company’s stock valued at $495,000 after buying an additional 13,600 shares during the period. Bard Associates Inc. increased its position in shares of OCI Partners by 1.0% during the second quarter. Bard Associates Inc. now owns 144,400 shares of the basic materials company’s stock valued at $1,278,000 after buying an additional 1,500 shares during the period. Finally, Cowen Inc. increased its position in shares of OCI Partners by 117.9% during the second quarter. Cowen Inc. now owns 208,420 shares of the basic materials company’s stock valued at $1,845,000 after buying an additional 112,750 shares during the period. Hedge funds and other institutional investors own 14.98% of the company’s stock.
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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