Brokerages Set CSI Compressco LP (CCLP) Price Target at $7.50

CSI Compressco LP (NASDAQ:CCLP) has received an average recommendation of “Hold” from the six analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $6.75.

A number of equities analysts have issued reports on CCLP shares. Zacks Investment Research upgraded CSI Compressco from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a report on Tuesday. BidaskClub cut CSI Compressco from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Janney Montgomery Scott cut CSI Compressco from a “buy” rating to a “neutral” rating in a report on Friday, October 12th. Finally, ValuEngine upgraded CSI Compressco from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th.

Large investors have recently added to or reduced their stakes in the company. Huber Capital Management LLC bought a new position in shares of CSI Compressco during the 3rd quarter valued at about $364,000. Hilltop Holdings Inc. lifted its holdings 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 purchasing an additional 18,500 shares in the last quarter. Renaissance Technologies LLC lifted its holdings 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 purchasing an additional 168,218 shares in the last quarter. WealthTrust Axiom LLC lifted its holdings 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 purchasing an additional 102,700 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of CSI Compressco by 17.9% during the 2nd quarter. FMR LLC now owns 1,418,587 shares of the oil and gas company’s stock valued at $7,916,000 after purchasing an additional 215,651 shares in the last quarter. Institutional investors and hedge funds own 25.85% of the company’s stock.

CCLP traded down $0.17 during midday trading on Friday, reaching $4.37. 70,599 shares of the company were exchanged, compared to its average volume of 178,988. The company has a current ratio of 1.79, a quick ratio of 1.03 and a debt-to-equity ratio of 9.11. CSI Compressco has a one year low of $4.33 and a one year high of $8.05. The stock has a market cap of $203.60 million, a P/E ratio of -3.74 and a beta of 1.50.

CSI Compressco (NASDAQ:CCLP) last issued its earnings results on Wednesday, November 7th. 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). CSI Compressco had a negative return on equity of 54.97% and a negative net margin of 11.45%. The company had revenue of $115.26 million for the quarter, compared to the consensus estimate of $108.80 million. As a group, equities analysts forecast that CSI Compressco will post -0.87 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Thursday, November 1st were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $3.00 dividend on an annualized basis and a yield of 68.65%. This is a boost from CSI Compressco’s previous quarterly dividend of $0.19. CSI Compressco’s dividend payout ratio (DPR) is -64.10%.

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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