Separately, Citigroup Inc. reduced their price objective on shares of OCI Partners from $8.00 to $6.50 and set a neutral rating for the company in a research note on Monday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $8.33.
Shares of OCI Partners (NYSE:OCIP) opened at 5.97 on Monday. The stock’s 50 day moving average price is $5.92 and its 200 day moving average price is $6.87. The firm has a market capitalization of $519.37 million, a P/E ratio of 32.10 and a beta of 1.17. OCI Partners has a 52 week low of $5.46 and a 52 week high of $10.57.
OCI Partners (NYSE:OCIP) last released its quarterly earnings data on Friday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by $0.04. OCI Partners had a net margin of 5.07% and a return on equity of 7.34%. On average, analysts predict that OCI Partners will post ($0.42) EPS for the current fiscal year.
In other news, insider Nassef Sawiris bought 36,100 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The shares were purchased at an average price of $6.04 per share, for a total transaction of $218,044.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.
A number of hedge funds and other institutional investors have recently made changes to their positions in OCIP. Credit Capital Investments LLC increased its position in shares of OCI Partners by 655.0% in the second quarter. Credit Capital Investments LLC now owns 596,487 shares of the company’s stock valued at $596,000 after buying an additional 517,482 shares during the period. Renaissance Technologies LLC increased its position in shares of OCI Partners by 293.7% in the first quarter. Renaissance Technologies LLC now owns 116,178 shares of the company’s stock valued at $878,000 after buying an additional 86,670 shares during the period. Citigroup Inc. increased its position in shares of OCI Partners by 197.4% in the second quarter. Citigroup Inc. now owns 27,206 shares of the company’s stock valued at $205,000 after buying an additional 18,057 shares during the period. Finally, ING Groep NV purchased a new position in shares of OCI Partners during the first quarter valued at approximately $140,000. Hedge funds and other institutional investors own 13.80% of the company’s stock.
About OCI Partners
OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is located on the Texas Gulf Coast near Beaumont. The Company has an annual methanol production capacity of approximately 912,500 metric tons and an annual ammonia production capacity of approximately 331,000 metric tons.
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