CSI Compressco LP (CCLP) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of CSI Compressco LP (NASDAQ:CCLP) from a buy rating to a hold rating in a research note released on Tuesday morning.

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 shares of CSI Compressco from a neutral rating to a buy rating and raised their price objective for the company from $10.00 to $12.00 in a research report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $10.00.

Analyst Recommendations for CSI Compressco (NASDAQ:CCLP)

CSI Compressco (NASDAQ:CCLP) traded down 2.22% during mid-day trading on Tuesday, reaching $10.57. 93,790 shares of the company’s stock traded hands. The firm’s market cap is $350.92 billion. The firm’s 50-day moving average price is $9.84 and its 200 day moving average price is $9.59. CSI Compressco has a one year low of $3.74 and a one year high of $11.66.

CSI Compressco (NASDAQ:CCLP) last announced its quarterly earnings data on Friday, November 4th. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.35. The firm had revenue of $70.70 million for the quarter, compared to the consensus estimate of $79.20 million. CSI Compressco had a negative net margin of 84.56% and a negative return on equity of 16.49%. On average, equities analysts forecast that CSI Compressco will post ($0.62) EPS for the current year.

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Several institutional investors have recently modified their holdings of the company. KCG Holdings Inc. acquired a new position in shares of CSI Compressco during the second quarter worth approximately $179,000. GSA Capital Partners LLP acquired a new position in shares of CSI Compressco during the second quarter worth approximately $243,000. Raymond James Trust N.A. boosted its position in shares of CSI Compressco by 80.8% in the third quarter. Raymond James Trust N.A. now owns 26,850 shares of the company’s stock worth $284,000 after buying an additional 12,000 shares during the last quarter. Morgan Stanley boosted its position in shares of CSI Compressco by 19.6% in the third quarter. Morgan Stanley now owns 31,721 shares of the company’s stock worth $336,000 after buying an additional 5,195 shares during the last quarter. Finally, Mariner Wealth Advisors LLC boosted its position in shares of 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 during the last quarter. 28.50% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:CCLP

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