CSI Compressco LP (NASDAQ:CCLP) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $12.00 target price on the stock. Zacks Investment Research’s price target suggests a potential upside of 9.39% from the company’s current price.
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 CSI Compressco from a “neutral” rating to a “buy” rating and upped their target price for the company from $10.00 to $12.00 in a research report on Friday, September 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. CSI Compressco currently has an average rating of “Hold” and a consensus price target of $10.25.
CSI Compressco (NASDAQ:CCLP) opened at 10.97 on Wednesday. The company’s market cap is $364.50 million. CSI Compressco has a one year low of $3.74 and a one year high of $14.97. The firm’s 50-day moving average price is $9.90 and its 200-day moving average price is $8.56.
CSI Compressco (NASDAQ:CCLP) last released its earnings results on Friday, August 5th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.03. The company had revenue of $76.10 million for the quarter, compared to the consensus estimate of $81.70 million. CSI Compressco had a negative net margin of 67.25% and a negative return on equity of 6.41%. On average, equities research analysts forecast that CSI Compressco will post ($0.48) earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. FMR LLC boosted its position in shares of 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 during the last quarter. ING Groep NV purchased a new position in shares of CSI Compressco during the first quarter worth about $609,000. Renaissance Technologies LLC purchased a new position in shares of CSI Compressco during the first quarter worth about $328,000. Mariner Wealth Advisors LLC purchased a new position in shares of CSI Compressco during the first quarter worth about $317,000. Finally, GSA Capital Partners LLP purchased a new position in shares of CSI Compressco during the second quarter worth about $243,000. Institutional investors and hedge funds own 29.01% of the company’s stock.
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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