CSI Compressco (NASDAQ:CCLP) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of CSI Compressco (NASDAQ:CCLP) in a research note issued to investors on Friday. The firm issued a buy rating on the oil and gas company’s stock.

CSI Compressco Trading Up 3.9 %

Shares of CSI Compressco stock opened at $2.42 on Friday. The company’s fifty day simple moving average is $2.07 and its two-hundred day simple moving average is $1.71. CSI Compressco has a 12-month low of $1.04 and a 12-month high of $2.44. The company has a market cap of $344.85 million, a P/E ratio of -34.57 and a beta of 0.75.

CSI Compressco (NASDAQ:CCLP) last released its quarterly earnings results on Friday, March 1st. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $98.27 million for the quarter.

CSI Compressco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $0.04 dividend on an annualized basis and a yield of 1.65%. CSI Compressco’s dividend payout ratio (DPR) is -57.14%.

Institutional Trading of CSI Compressco

A number of hedge funds have recently modified their holdings of the business. Invesco Ltd. boosted its stake in CSI Compressco by 105.3% during the first quarter. Invesco Ltd. now owns 10,829,797 shares of the oil and gas company’s stock worth $15,162,000 after acquiring an additional 5,555,555 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of CSI Compressco in the 1st quarter worth approximately $3,458,000. JPMorgan Chase & Co. bought a new position in CSI Compressco during the 4th quarter valued at approximately $2,150,000. Bank of America Corp DE raised its stake in CSI Compressco by 1.2% during the fourth quarter. Bank of America Corp DE now owns 834,114 shares of the oil and gas company’s stock valued at $1,109,000 after buying an additional 9,831 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of CSI Compressco by 17,665.0% in the fourth quarter. Wells Fargo & Company MN now owns 182,802 shares of the oil and gas company’s stock worth $243,000 after acquiring an additional 181,773 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

CSI Compressco Company Profile

CSI Compressco LP provides contract services for natural gas compression and treating in the United States, Latin America, Canada, Egypt, and internationally. The company offers natural gas compression services through low-, medium-, and high-horsepower compressor packages for oil and natural gas production, gathering, artificial lift, transmission, processing, and storage.