StockNews.com Begins Coverage on CSI Compressco (NASDAQ:CCLP)

StockNews.com initiated coverage on shares of CSI Compressco (NASDAQ:CCLP) in a research report released on Tuesday morning. The firm issued a buy rating on the oil and gas company’s stock.

CSI Compressco Stock Performance

CCLP stock opened at $2.42 on Tuesday. The stock’s 50 day simple moving average is $2.30 and its 200 day simple moving average is $1.89. The company has a market cap of $344.85 million, a P/E ratio of -34.57 and a beta of 0.75. CSI Compressco has a fifty-two week low of $1.04 and a fifty-two week high of $2.44.

CSI Compressco (NASDAQ:CCLP) last issued its earnings results on Friday, March 1st. The oil and gas company reported ($0.02) earnings per share for the quarter. The firm had revenue of $98.27 million during the quarter.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Crystalline Management Inc. acquired a new position in CSI Compressco during the 4th quarter valued at about $29,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of CSI Compressco in the third quarter valued at approximately $49,000. PenderFund Capital Management Ltd. purchased a new position in shares of CSI Compressco during the fourth quarter valued at approximately $135,000. Finally, King Luther Capital Management Corp bought a new stake in CSI Compressco during the fourth quarter worth $204,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

CSI Compressco Company Profile

CSI Compressco LP provides contract services for natural gas compression and treating in the United States, Latin America, Canada, Egypt, and internationally. The company offers natural gas compression services through low-, medium-, and high-horsepower compressor packages for oil and natural gas production, gathering, artificial lift, transmission, processing, and storage.