CSI Compressco (NASDAQ:CCLP) Upgraded at Zacks Investment Research

CSI Compressco (NASDAQ:CCLP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday, 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. “

A number of other brokerages also recently issued reports on CCLP. ValuEngine downgraded CSI Compressco from a “hold” rating to a “sell” rating in a research report on Tuesday, December 31st. Wells Fargo & Co cut CSI Compressco from an “equal weight” rating to an “underweight” rating and set a $3.00 target price on the stock. in a research note on Tuesday, January 7th.

Shares of NASDAQ:CCLP traded down $0.05 during mid-day trading on Monday, reaching $0.66. The stock had a trading volume of 98,573 shares, compared to its average volume of 119,036. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 13.56. The company has a market cap of $34.03 million, a P/E ratio of -1.50 and a beta of 2.43. CSI Compressco has a 1 year low of $0.45 and a 1 year high of $3.98. The business’s 50 day moving average price is $1.29 and its 200 day moving average price is $2.22.

CSI Compressco (NASDAQ:CCLP) last posted its earnings results on Wednesday, February 26th. The oil and gas company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). The firm had revenue of $123.54 million during the quarter, compared to analysts’ expectations of $122.50 million. CSI Compressco had a negative return on equity of 35.90% and a negative net margin of 4.40%. Analysts predict that CSI Compressco will post -0.41 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Marshall Wace LLP bought a new position in CSI Compressco in the first quarter worth approximately $76,000. Virtu Financial LLC acquired a new stake in CSI Compressco during the 4th quarter worth about $96,000. Finally, FMR LLC grew its position in shares of CSI Compressco by 1.9% during the 1st quarter. FMR LLC now owns 1,744,183 shares of the oil and gas company’s stock valued at $4,953,000 after acquiring an additional 33,320 shares during the period. 21.42% of the stock is currently owned by institutional investors.

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

Featured Article: Reverse Stock Split

Get a free copy of the Zacks research report on CSI Compressco (CCLP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CSI Compressco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSI Compressco and related companies with MarketBeat.com's FREE daily email newsletter.