Zacks Investment Research Upgrades CSI Compressco (CCLP) to Buy

CSI Compressco (NASDAQ:CCLP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $4.75 price target on the oil and gas company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.83% from the stock’s previous close.

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. “

Other analysts also recently issued reports about the stock. ValuEngine raised shares of CSI Compressco from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Janney Montgomery Scott downgraded shares of CSI Compressco from a “buy” rating to a “neutral” rating in a report on Friday, October 12th. Finally, BidaskClub downgraded shares of CSI Compressco from a “hold” rating to a “sell” rating in a report on Friday, September 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. CSI Compressco currently has a consensus rating of “Hold” and a consensus target price of $6.58.

Shares of NASDAQ CCLP traded up $0.03 during trading hours on Friday, hitting $4.21. 174,272 shares of the stock were exchanged, compared to its average volume of 164,850. The company has a current ratio of 1.79, a quick ratio of 1.03 and a debt-to-equity ratio of 9.11. The company has a market cap of $191.49 million, a P/E ratio of -3.60 and a beta of 1.52. CSI Compressco has a one year low of $4.09 and a one year high of $8.05.

CSI Compressco (NASDAQ:CCLP) last posted its quarterly earnings data on Wednesday, November 7th. The oil and gas company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.04). The firm had revenue of $115.26 million for the quarter, compared to the consensus estimate of $108.80 million. CSI Compressco had a negative return on equity of 54.97% and a negative net margin of 11.45%. Equities research analysts forecast that CSI Compressco will post -0.87 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Huber Capital Management LLC bought a new stake in CSI Compressco in the 3rd quarter valued at $364,000. Hilltop Holdings Inc. boosted its holdings in CSI Compressco by 23.5% in 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 during the period. Renaissance Technologies LLC boosted its holdings in CSI Compressco by 120.3% in 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 during the period. WealthTrust Axiom LLC boosted its holdings in CSI Compressco by 41.1% in 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 during the period. Finally, FMR LLC boosted its holdings in CSI Compressco by 17.9% in 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 during the period. 26.17% 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, 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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