CSI Compressco (CCLP) Releases Earnings Results, Misses Expectations By $0.04 EPS

CSI Compressco (NASDAQ:CCLP) announced its quarterly earnings data on Wednesday. The oil and gas company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.04), Fidelity Earnings reports. The firm had revenue of $115.26 million during the quarter, compared to analysts’ expectations of $108.80 million. CSI Compressco had a negative return on equity of 51.34% and a negative net margin of 12.89%. CSI Compressco updated its Q4 2018 guidance to EPS.

Shares of CCLP traded up $0.45 during trading hours on Thursday, hitting $5.63. The stock had a trading volume of 293,400 shares, compared to its average volume of 126,288. The company has a debt-to-equity ratio of 8.65, a current ratio of 2.31 and a quick ratio of 1.50. CSI Compressco has a fifty-two week low of $4.37 and a fifty-two week high of $8.05. The stock has a market cap of $198.02 million, a P/E ratio of -4.81 and a beta of 1.50.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Thursday, November 1st will be paid a $0.75 dividend. This is a boost from CSI Compressco’s previous quarterly dividend of $0.19. This represents a $3.00 annualized dividend and a dividend yield of 53.29%. The ex-dividend date is Wednesday, October 31st. CSI Compressco’s payout ratio is currently -64.10%.

Several equities analysts have commented on CCLP shares. ValuEngine lowered shares of CSI Compressco from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Zacks Investment Research upgraded shares of CSI Compressco from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. Janney Montgomery Scott downgraded shares of CSI Compressco from a “buy” rating to a “neutral” rating in a research note on Friday, October 12th. Finally, BidaskClub downgraded shares of CSI Compressco from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $7.00.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. 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 worth $23,856,000 after buying an additional 179,760 shares in the last quarter. WealthTrust Axiom LLC boosted its position in shares of CSI Compressco by 41.1% during the 3rd quarter. WealthTrust Axiom LLC now owns 352,500 shares of the oil and gas company’s stock valued at $1,815,000 after acquiring an additional 102,700 shares during the last quarter. Hilltop Holdings Inc. boosted its position in shares of CSI Compressco by 23.5% during the 2nd quarter. Hilltop Holdings Inc. now owns 97,150 shares of the oil and gas company’s stock valued at $542,000 after acquiring an additional 18,500 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of CSI Compressco by 120.3% during the 2nd quarter. Renaissance Technologies LLC now owns 308,002 shares of the oil and gas company’s stock valued at $1,719,000 after acquiring an additional 168,218 shares during the last quarter. Finally, FMR LLC lifted its position in CSI Compressco by 17.9% in the second quarter. FMR LLC now owns 1,418,587 shares of the oil and gas company’s stock valued at $7,916,000 after buying an additional 215,651 shares during the last quarter. 26.05% of the stock is owned by institutional investors.

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CSI Compressco Company Profile

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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Earnings History for CSI Compressco (NASDAQ:CCLP)

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