Zacks Investment Research upgraded shares of CSI Compressco LP (NASDAQ:CCLP) from a sell rating to a buy rating in a report published on Wednesday morning. They currently have $12.00 price target on the stock.
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. “
Separately, Janney Montgomery Scott upgraded CSI Compressco from a neutral rating to a buy rating and raised their target price for the company from $10.00 to $12.00 in a research report on Friday, September 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $10.25.
CSI Compressco (NASDAQ:CCLP) opened at 10.91 on Wednesday. The stock has a 50 day moving average price of $9.93 and a 200-day moving average price of $8.59. The firm’s market capitalization is $362.51 million. CSI Compressco has a 12-month low of $3.74 and a 12-month high of $14.97.
CSI Compressco (NASDAQ:CCLP) last posted its earnings results on Friday, August 5th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by $0.03. CSI Compressco had a negative net margin of 67.25% and a negative return on equity of 6.41%. The business earned $76.10 million during the quarter, compared to analyst estimates of $81.70 million. On average, equities research analysts forecast that CSI Compressco will post ($0.48) EPS for the current year.
A number of institutional investors have recently modified their holdings of CCLP. ING Groep NV purchased a new position in shares of CSI Compressco during the first quarter worth about $609,000. Mariner Wealth Advisors LLC purchased a new position in shares of CSI Compressco during the first quarter worth about $317,000. Renaissance Technologies LLC purchased a new position in shares of CSI Compressco during the first quarter worth about $328,000. WealthTrust Axiom LLC raised its position in shares of CSI Compressco by 1.5% in the second quarter. WealthTrust Axiom LLC now owns 195,800 shares of the company’s stock worth $1,597,000 after buying an additional 2,850 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of CSI Compressco during the second quarter worth about $243,000. 29.01% of the stock is owned by hedge funds and other institutional investors.
About CSI Compressco
CSI Compressco LP, formerly Compressco Partners, L.P., is a provider of compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. The Company sells custom-designed compressor packages and oilfield fluid pump systems, and provides aftermarket services and compressor package parts and components manufactured by third-party suppliers.
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