CSI Compressco (NASDAQ:CCLP) Lifted to “Hold” at Zacks Investment Research

CSI Compressco (NASDAQ:CCLP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, 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 raised shares of CSI Compressco from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $3.50.



CCLP stock traded down $0.14 on Wednesday, hitting $3.26. 99,228 shares of the company’s stock traded hands, compared to its average volume of 174,144. CSI Compressco has a 1-year low of $2.10 and a 1-year high of $6.29. The firm has a market cap of $157.73 million, a PE ratio of -3.79 and a beta of 1.96. The stock’s fifty day moving average is $3.54. The company has a debt-to-equity ratio of 11.06, a quick ratio of 0.65 and a current ratio of 1.24.

CSI Compressco (NASDAQ:CCLP) last released its earnings results on Wednesday, August 7th. The oil and gas company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. CSI Compressco had a negative net margin of 5.49% and a negative return on equity of 37.78%. The business had revenue of $135.86 million during the quarter, compared to analyst estimates of $134.36 million. On average, equities analysts expect that CSI Compressco will post -0.29 EPS for the current year.

Several large investors have recently modified their holdings of the stock. Lapides Asset Management LLC lifted its position in shares of CSI Compressco by 15.7% in the 2nd quarter. Lapides Asset Management LLC now owns 41,900 shares of the oil and gas company’s stock valued at $148,000 after acquiring an additional 5,700 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CSI Compressco by 42.7% in the 4th quarter. Geode Capital Management LLC now owns 39,094 shares of the oil and gas company’s stock valued at $90,000 after acquiring an additional 11,701 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of CSI Compressco in the 1st quarter valued at approximately $76,000. FMR LLC lifted its position in shares of CSI Compressco by 1.9% in the 1st quarter. FMR LLC now owns 1,744,183 shares of the oil and gas company’s stock valued at $4,953,000 after acquiring an additional 33,320 shares in the last quarter. Finally, WealthTrust Axiom LLC increased its stake in CSI Compressco by 7.9% in the 2nd quarter. WealthTrust Axiom LLC now owns 473,882 shares of the oil and gas company’s stock valued at $1,677,000 after buying an additional 34,632 shares during the period. Institutional investors and hedge funds own 29.18% 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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