CSI Compressco (NASDAQ:CCLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

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 equities research analysts have also commented on the company. ValuEngine upgraded CSI Compressco from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. BidaskClub lowered CSI Compressco from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $7.00.

NASDAQ CCLP opened at $5.86 on Tuesday. The company has a market cap of $219.31 million, a P/E ratio of -5.01 and a beta of 1.59. CSI Compressco has a one year low of $4.51 and a one year high of $8.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 1.50 and a current ratio of 2.31.

CSI Compressco (NASDAQ:CCLP) last released its quarterly earnings results on Wednesday, August 8th. The oil and gas company reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.01). The business had revenue of $99.92 million for the quarter, compared to the consensus estimate of $91.13 million. CSI Compressco had a negative return on equity of 51.34% and a negative net margin of 12.89%. Analysts forecast that CSI Compressco will post -0.88 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hilltop Holdings Inc. boosted its position 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 buying an additional 18,500 shares during the last quarter. Renaissance Technologies LLC boosted its position 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 buying an additional 168,218 shares during the last quarter. OppenheimerFunds Inc. boosted its position in CSI Compressco by 4.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 4,275,136 shares of the oil and gas company’s stock valued at $23,856,000 after buying an additional 179,760 shares during the last quarter. Wells Fargo & Company MN boosted its position in CSI Compressco by 25.8% in the 1st quarter. Wells Fargo & Company MN now owns 960,222 shares of the oil and gas company’s stock valued at $6,972,000 after buying an additional 196,936 shares during the last quarter. Finally, FMR LLC boosted its position 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 buying an additional 215,651 shares during the last quarter. Hedge funds and other institutional investors own 26.04% of the company’s stock.

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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