B. Riley initiated coverage on shares of Cypress Energy Partners (NYSE:CELP) in a research note issued to investors on Thursday, The Fly reports. The brokerage issued a buy rating and a $11.00 price target on the oil and gas company’s stock.

NYSE:CELP traded up $0.42 during midday trading on Thursday, reaching $8.45. 2,800 shares of the stock traded hands, compared to its average volume of 15,460. Cypress Energy Partners has a 12-month low of $5.36 and a 12-month high of $8.28. The business has a 50-day moving average of $7.39 and a two-hundred day moving average of $7.31. The company has a debt-to-equity ratio of 8.64, a quick ratio of 2.82 and a current ratio of 2.82. The stock has a market capitalization of $101.30 million, a PE ratio of 10.29 and a beta of 1.45.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a yield of 9.94%.

In other news, Director John T. Mcnabb II bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $7.25 per share, with a total value of $36,250.00. Following the completion of the transaction, the director now directly owns 70,262 shares of the company’s stock, valued at approximately $509,399.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

A hedge fund recently raised its stake in Cypress Energy Partners stock. Morgan Stanley boosted its position in shares of Cypress Energy Partners LP (NYSE:CELP) by 242.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,884 shares of the oil and gas company’s stock after acquiring an additional 15,500 shares during the period. Morgan Stanley owned 0.18% of Cypress Energy Partners worth $160,000 as of its most recent filing with the Securities & Exchange Commission. 1.48% of the stock is owned by institutional investors.

About Cypress Energy Partners

Cypress Energy Partners, L.P. provides pipeline inspection and integrity, and water and environmental services in North America. The company operates in three segments: Pipeline Inspection Services, Pipeline & Process Services, and Water and Environmental Services. The Pipeline Inspection Services segment offers independent inspection services for various facilities and equipment, such as transmission pipelines; oil and natural gas gathering systems; pump, compressor, measurement, and regulation stations; storage facilities and terminals; and gas distribution systems.

See Also: Net Margin

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