CSI Compressco (NASDAQ:CCLP) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of CSI Compressco (NASDAQ:CCLP) from a hold rating to a sell rating in a report published on Wednesday morning, Zacks.com reports.

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. “

Separately, ValuEngine raised CSI Compressco from a sell rating to a hold rating in a report on Thursday, August 1st.

CSI Compressco stock traded up $0.03 during trading hours on Wednesday, hitting $2.92. The stock had a trading volume of 5,135 shares, compared to its average volume of 79,296. The company has a 50-day moving average of $2.89 and a two-hundred day moving average of $3.21. The company has a quick ratio of 0.67, a current ratio of 1.22 and a debt-to-equity ratio of 11.76. The company has a market cap of $136.51 million, a PE ratio of -3.34 and a beta of 1.92. CSI Compressco has a fifty-two week low of $2.10 and a fifty-two week high of $5.82.

CSI Compressco (NASDAQ:CCLP) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. The firm had revenue of $135.86 million during the quarter, compared to analysts’ expectations of $134.36 million. CSI Compressco had a negative return on equity of 39.24% and a negative net margin of 5.49%. As a group, analysts forecast that CSI Compressco will post -0.34 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of CSI Compressco in the 1st quarter worth approximately $76,000. Lapides Asset Management LLC raised its holdings in shares of CSI Compressco by 15.7% in the 2nd quarter. Lapides Asset Management LLC now owns 41,900 shares of the oil and gas company’s stock worth $148,000 after buying an additional 5,700 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in shares of CSI Compressco by 89.7% in the 2nd quarter. Hilltop Holdings Inc. now owns 208,050 shares of the oil and gas company’s stock worth $736,000 after buying an additional 98,350 shares in the last quarter. Wiley BROS. Aintree Capital LLC raised its holdings in shares of CSI Compressco by 15.9% in the 2nd quarter. Wiley BROS. Aintree Capital LLC now owns 337,319 shares of the oil and gas company’s stock worth $1,194,000 after buying an additional 46,175 shares in the last quarter. Finally, B. Riley Financial Inc. acquired a new position in shares of CSI Compressco in the 2nd quarter worth approximately $1,343,000. 24.95% of the stock is owned by institutional investors and hedge funds.

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, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration.

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