Compressco Partners (CCLP) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Compressco Partners (NASDAQ:CCLP) from a sell rating to a hold rating in a research report released on Wednesday.

Several other brokerages have also recently weighed in on CCLP. Stifel Nicolaus set a $8.00 price target on Compressco Partners and gave the company a hold rating in a research report on Wednesday, February 28th. Zacks Investment Research cut Compressco Partners from a hold rating to a sell rating in a research report on Friday, February 2nd. Finally, BidaskClub cut Compressco Partners from a buy rating to a hold rating in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Compressco Partners currently has an average rating of Hold and an average price target of $6.33.

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Shares of Compressco Partners stock opened at $6.97 on Wednesday. Compressco Partners has a 52-week low of $4.12 and a 52-week high of $10.15. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 5.39.

Compressco Partners (NASDAQ:CCLP) last announced its quarterly earnings data on Tuesday, February 27th. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.05). Compressco Partners had a negative net margin of 13.69% and a negative return on equity of 38.50%. The firm had revenue of $83.10 million during the quarter, compared to the consensus estimate of $76.15 million. equities research analysts predict that Compressco Partners will post -0.58 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in CCLP. OppenheimerFunds Inc. increased its position in shares of Compressco Partners by 9.8% during the fourth quarter. OppenheimerFunds Inc. now owns 3,627,135 shares of the oil and gas company’s stock valued at $19,840,000 after buying an additional 324,027 shares during the period. Deutsche Bank AG increased its position in shares of Compressco Partners by 60,459.8% during the fourth quarter. Deutsche Bank AG now owns 244,056 shares of the oil and gas company’s stock valued at $1,334,000 after buying an additional 243,653 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Compressco Partners during the fourth quarter valued at about $1,150,000. Goldman Sachs Group Inc. increased its position in shares of Compressco Partners by 4.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,950,641 shares of the oil and gas company’s stock valued at $16,140,000 after buying an additional 131,654 shares during the period. Finally, Hudson Bay Capital Management LP increased its position in shares of Compressco Partners by 46.6% during the fourth quarter. Hudson Bay Capital Management LP now owns 350,931 shares of the oil and gas company’s stock valued at $1,920,000 after buying an additional 111,615 shares during the period. Hedge funds and other institutional investors own 29.55% of the company’s stock.

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About Compressco Partners

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, oilfield fluid pump systems, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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