StockNews.com Begins Coverage on CSI Compressco (NASDAQ:CCLP)

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

CSI Compressco Stock Up 3.9 %

NASDAQ:CCLP opened at $2.42 on Monday. CSI Compressco has a 52 week low of $1.04 and a 52 week high of $2.44. The company has a market capitalization of $344.85 million, a P/E ratio of -34.57 and a beta of 0.75. The stock’s fifty day moving average is $2.24 and its two-hundred day moving average is $1.84.

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

Institutional Investors Weigh In On CSI Compressco

Several institutional investors and hedge funds have recently modified their holdings of CCLP. Raymond James Financial Services Advisors Inc. acquired a new position in shares of CSI Compressco during the 3rd quarter worth about $49,000. PenderFund Capital Management Ltd. acquired a new stake in shares of CSI Compressco in the 4th quarter valued at about $135,000. Crystalline Management Inc. acquired a new stake in shares of CSI Compressco in the 4th quarter valued at about $29,000. Finally, King Luther Capital Management Corp acquired a new stake in shares of CSI Compressco in the 4th quarter valued at about $204,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

About CSI Compressco

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.