CSI Compressco (CCLP) Lowered to “Hold” at Zacks Investment Research

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Zacks Investment Research cut shares of CSI Compressco (NASDAQ:CCLP) from a buy rating to a hold rating in a research note released on Wednesday morning.

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. “

A number of other equities research analysts have also recently commented on CCLP. ValuEngine upgraded shares of CSI Compressco from a hold rating to a buy rating in a report on Tuesday, August 28th. BidaskClub cut shares of CSI Compressco from a hold rating to a sell rating in a report on Friday, September 7th. Finally, Janney Montgomery Scott cut shares of CSI Compressco from a buy rating to a neutral rating in a report on Friday, October 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. CSI Compressco presently has an average rating of Hold and a consensus price target of $6.42.

NASDAQ:CCLP opened at $3.48 on Wednesday. The company has a debt-to-equity ratio of 9.11, a current ratio of 1.79 and a quick ratio of 1.03. CSI Compressco has a 12 month low of $3.27 and a 12 month high of $8.05.

CSI Compressco (NASDAQ:CCLP) last posted its quarterly earnings results on Wednesday, November 7th. The oil and gas company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). The company had revenue of $115.26 million during the quarter, compared to analyst estimates of $108.80 million. CSI Compressco had a negative return on equity of 54.97% and a negative net margin of 11.45%. Analysts predict that CSI Compressco will post -0.87 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Huber Capital Management LLC acquired a new position in shares of CSI Compressco during the third quarter valued at about $364,000. OppenheimerFunds Inc. grew its holdings in shares of CSI Compressco by 4.4% during the second quarter. OppenheimerFunds Inc. now owns 4,275,136 shares of the oil and gas company’s stock valued at $23,856,000 after buying an additional 179,760 shares during the last quarter. WealthTrust Axiom LLC grew its holdings in shares of CSI Compressco by 41.1% during the third quarter. WealthTrust Axiom LLC now owns 352,500 shares of the oil and gas company’s stock valued at $1,815,000 after buying an additional 102,700 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of CSI Compressco by 120.3% during the second quarter. Renaissance Technologies LLC now owns 308,002 shares of the oil and gas company’s stock valued at $1,719,000 after buying an additional 168,218 shares during the last quarter. Finally, Hilltop Holdings Inc. grew its holdings in shares of CSI Compressco by 23.5% during the second quarter. Hilltop Holdings Inc. now owns 97,150 shares of the oil and gas company’s stock valued at $542,000 after buying an additional 18,500 shares during the last quarter. Hedge funds and other institutional investors own 26.17% 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, oilfield fluid pump systems, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration services.

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