Janney Montgomery Scott upgraded shares of CSI Compressco LP (NASDAQ:CCLP) from a neutral rating to a buy rating in a research note published on Friday. The firm currently has $12.00 price target on the stock, up from their previous price target of $10.00.
Separately, Zacks Investment Research raised shares of CSI Compressco from a hold rating to a buy rating and set a $10.00 price target for the company in a research report on Tuesday, July 12th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $9.75.
Shares of CSI Compressco (NASDAQ:CCLP) traded up 3.82% during trading on Friday, reaching $10.60. 4,594 shares of the company’s stock were exchanged. CSI Compressco has a 52 week low of $3.74 and a 52 week high of $15.27. The stock’s market capitalization is $352.21 million. The company’s 50-day moving average is $9.61 and its 200 day moving average is $8.24.
CSI Compressco (NASDAQ:CCLP) last issued its quarterly earnings data on Friday, August 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm earned $76.10 million during the quarter, compared to analyst estimates of $81.70 million. On average, analysts forecast that CSI Compressco will post ($0.37) earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in CCLP. KCG Holdings Inc. acquired a new position in CSI Compressco during the second quarter worth approximately $179,000. Mariner Wealth Advisors LLC increased its position in CSI Compressco by 23.6% in the second quarter. Mariner Wealth Advisors LLC now owns 68,000 shares of the company’s stock worth $555,000 after buying an additional 13,000 shares in the last quarter. FMR LLC increased its position in CSI Compressco by 191.8% in the second quarter. FMR LLC now owns 637,190 shares of the company’s stock worth $5,199,000 after buying an additional 418,800 shares in the last quarter. GSA Capital Partners LLP acquired a new position in CSI Compressco during the second quarter worth approximately $243,000. Finally, WealthTrust Axiom LLC increased its position in 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 in the last quarter. 29.01% of the stock is owned by hedge funds and other institutional investors.
CSI Compressco Company Profile
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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