CSI Compressco LP (NASDAQ:CCLP) announced a quarterly dividend on Monday, July 22nd, Zacks reports. Stockholders of record on Thursday, August 1st will be given a dividend of 0.01 per share by the oil and gas company on Wednesday, August 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, July 31st.
CSI Compressco has decreased its dividend payment by an average of 27.7% annually over the last three years. CSI Compressco has a dividend payout ratio of -4.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CSI Compressco to earn $0.15 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 26.7%.
Shares of CSI Compressco stock opened at $3.52 on Tuesday. The company has a market capitalization of $166.14 million, a P/E ratio of -4.09 and a beta of 2.01. The firm’s 50 day moving average is $3.44. CSI Compressco has a twelve month low of $2.10 and a twelve month high of $6.29. The company has a current ratio of 1.24, a quick ratio of 0.65 and a debt-to-equity ratio of 11.06.
CCLP has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Friday. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. CSI Compressco currently has a consensus rating of “Sell” and an average price target of $3.50.
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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