CSI Compressco (NASDAQ:CCLP) Now Covered by Analysts at StockNews.com

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

CSI Compressco Price Performance

Shares of CSI Compressco stock opened at $1.09 on Monday. The firm has a market cap of $154.77 million, a price-to-earnings ratio of -8.38 and a beta of 0.94. The stock’s 50-day moving average is $1.19 and its 200-day moving average is $1.29. CSI Compressco has a one year low of $1.04 and a one year high of $1.60.

CSI Compressco (NASDAQ:CCLP – Get Rating) last released its earnings results on Friday, March 10th. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $93.97 million during the quarter.

CSI Compressco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Sunday, April 30th were paid a $0.01 dividend. The ex-dividend date was Thursday, April 27th. This represents a $0.04 annualized dividend and a yield of 3.67%. CSI Compressco’s dividend payout ratio is -30.77%.

Hedge Funds Weigh In On CSI Compressco

Several institutional investors and hedge funds have recently made changes to their positions in CCLP. Invesco Ltd. grew its position in CSI Compressco by 105.3% during the first quarter. Invesco Ltd. now owns 10,829,797 shares of the oil and gas company’s stock worth $15,162,000 after buying an additional 5,555,555 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of CSI Compressco in the 1st quarter valued at $3,458,000. JPMorgan Chase & Co. bought a new position in shares of CSI Compressco in the 4th quarter valued at $2,150,000. Huber Capital Management LLC lifted its stake in shares of CSI Compressco by 2.3% in the 1st quarter. Huber Capital Management LLC now owns 1,183,004 shares of the oil and gas company’s stock valued at $1,455,000 after acquiring an additional 26,893 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of CSI Compressco by 1.2% in the 4th quarter. Bank of America Corp DE now owns 834,114 shares of the oil and gas company’s stock valued at $1,109,000 after acquiring an additional 9,831 shares during the last quarter. Institutional investors and hedge funds own 16.81% of the company’s stock.

About CSI Compressco

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CSI Compressco LP engages in the provision of compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage. It operates through the following geographical segments: United States, Latin America, Canada, and Other. The firm offers compression services, digitally enhanced compression, and parts and services.