CSI Compressco (NASDAQ:CCLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “CSI Compressco LP offers compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. Its equipment and parts sales business includes the fabrication and sale of standard compressor packages, custom-designed compressor packages and engine-driven oilfield fluid pump systems designed. The company offers well monitoring and automated sand separation services as well as compressor package reconfiguration and maintenance services. CSI Compressco LP, formerly known as Compressco Partners, L.P., is headquartered in Oklahoma City. “
Get CSI Compressco alerts:Other research analysts have also issued reports about the company. BidaskClub lowered CSI Compressco from a “buy” rating to a “hold” rating in a research report on Monday, May 14th. ValuEngine upgraded CSI Compressco from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 17th. Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 price objective (down from $8.00) on shares of CSI Compressco in a research report on Tuesday, May 8th. Finally, Raymond James set a $8.00 price objective on CSI Compressco and gave the company a “buy” rating in a research report on Tuesday, May 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $6.50.
Shares of CSI Compressco opened at $5.30 on Wednesday, according to MarketBeat. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 7.69. CSI Compressco has a 52 week low of $4.19 and a 52 week high of $8.05.
CSI Compressco (NASDAQ:CCLP) last announced its quarterly earnings data on Monday, May 7th. The oil and gas company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.18). The firm had revenue of $85.42 million during the quarter, compared to the consensus estimate of $82.69 million. CSI Compressco had a negative net margin of 12.87% and a negative return on equity of 42.32%. research analysts anticipate that CSI Compressco will post -0.79 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. OppenheimerFunds Inc. lifted its stake in shares of CSI Compressco by 12.9% in the 1st quarter. OppenheimerFunds Inc. now owns 4,095,376 shares of the oil and gas company’s stock valued at $29,733,000 after purchasing an additional 468,241 shares during the period. Wells Fargo & Company MN lifted its stake in shares of CSI Compressco by 25.8% in the 1st quarter. Wells Fargo & Company MN now owns 960,222 shares of the oil and gas company’s stock valued at $6,972,000 after purchasing an additional 196,936 shares during the period. Deutsche Bank AG lifted its stake in shares of CSI Compressco by 60,459.8% in the 4th quarter. Deutsche Bank AG now owns 244,056 shares of the oil and gas company’s stock valued at $1,334,000 after purchasing an additional 243,653 shares during the period. Renaissance Technologies LLC acquired a new position in shares of CSI Compressco in the 4th quarter valued at $1,150,000. Finally, Intrinsic Edge Capital Management LLC lifted its stake in shares of CSI Compressco by 16.1% in the 1st quarter. Intrinsic Edge Capital Management LLC now owns 143,900 shares of the oil and gas company’s stock valued at $1,045,000 after purchasing an additional 20,000 shares during the period. Hedge funds and other institutional investors own 26.45% of the company’s stock.
About CSI Compressco
CSI Compressco LP provides compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage applications in the United States and internationally. It fabricates and sells standard and custom-designed compressor packages, oilfield fluid pump systems, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration services.
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