CSI Compressco (NASDAQ:CCLP) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of CSI Compressco (NASDAQ:CCLP – Get Rating) in a research note released on Monday. The firm issued a buy rating on the oil and gas company’s stock.

CSI Compressco Stock Down 2.7 %

NASDAQ:CCLP opened at $1.09 on Monday. CSI Compressco has a 1-year low of $1.04 and a 1-year high of $1.60. The firm has a market capitalization of $154.77 million, a price-to-earnings ratio of -8.38 and a beta of 0.94. The stock has a fifty day simple moving average of $1.19 and a 200 day simple moving average of $1.29.

CSI Compressco (NASDAQ:CCLP – Get Rating) last announced its quarterly earnings data on Friday, March 10th. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $93.97 million during the quarter.

CSI Compressco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Sunday, April 30th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Thursday, April 27th. CSI Compressco’s dividend payout ratio is currently -30.77%.

Institutional Investors Weigh In On CSI Compressco

Hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. increased its holdings in shares of CSI Compressco by 105.3% during the 1st quarter. Invesco Ltd. now owns 10,829,797 shares of the oil and gas company’s stock valued at $15,162,000 after acquiring an additional 5,555,555 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of CSI Compressco during the 1st quarter worth approximately $3,458,000. JPMorgan Chase & Co. acquired a new stake in shares of CSI Compressco during the 4th quarter worth approximately $2,150,000. Wells Fargo & Company MN grew its holdings in shares of CSI Compressco by 17,665.0% during the 4th quarter. Wells Fargo & Company MN now owns 182,802 shares of the oil and gas company’s stock worth $243,000 after purchasing an additional 181,773 shares in the last quarter. Finally, Syntal Capital Partners LLC acquired a new stake in shares of CSI Compressco during the 1st quarter worth approximately $131,000. 16.81% of the stock is owned by hedge funds and other institutional investors.

CSI Compressco Company Profile

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CSI Compressco LP engages in the provision of compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage. It operates through the following geographical segments: United States, Latin America, Canada, and Other. The firm offers compression services, digitally enhanced compression, and parts and services.