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

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Zacks Investment Research lowered shares of CSI Compressco (NASDAQ:CCLP) from a buy rating to a hold rating in a report released on Monday morning, Zacks.com reports.

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, ValuEngine cut shares of CSI Compressco from a hold rating to a sell rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. CSI Compressco currently has a consensus rating of Hold and an average price target of $3.50.

Shares of NASDAQ CCLP opened at $3.55 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 11.06. CSI Compressco has a 52 week low of $2.10 and a 52 week high of $6.47. The stock has a market capitalization of $167.08 million, a P/E ratio of -4.13 and a beta of 2.26.

CSI Compressco (NASDAQ:CCLP) last announced its earnings results on Wednesday, May 8th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). The business had revenue of $103.44 million for the quarter, compared to analyst estimates of $116.35 million. CSI Compressco had a negative return on equity of 49.28% and a negative net margin of 7.38%. As a group, research analysts anticipate that CSI Compressco will post -0.19 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Tuesday, April 30th. CSI Compressco’s payout ratio is currently -4.65%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Intrinsic Edge Capital Management LLC acquired a new position in CSI Compressco during the fourth quarter worth about $464,000. Virtu Financial LLC acquired a new position in CSI Compressco during the fourth quarter worth about $41,000. WealthTrust Axiom LLC raised its position in CSI Compressco by 26.1% during the fourth quarter. WealthTrust Axiom LLC now owns 444,400 shares of the oil and gas company’s stock worth $1,031,000 after acquiring an additional 91,900 shares during the last quarter. Wiley BROS. Aintree Capital LLC acquired a new position in CSI Compressco during the fourth quarter worth about $446,000. Finally, KG&L Capital Management LLC acquired a new position in CSI Compressco during the fourth quarter worth about $35,000. Institutional investors own 29.75% 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, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration.

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