CSI Compressco (NASDAQ:CCLP) Rating Lowered to Hold at Zacks Investment Research

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

Separately, ValuEngine raised CSI Compressco from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

CCLP stock traded down $0.05 during mid-day trading on Monday, reaching $2.49. The company had a trading volume of 92,500 shares, compared to its average volume of 151,260. The company has a debt-to-equity ratio of 11.76, a quick ratio of 0.67 and a current ratio of 1.22. The company has a market capitalization of $136.51 million, a price-to-earnings ratio of -2.90 and a beta of 1.93. The firm has a fifty day simple moving average of $2.84 and a 200 day simple moving average of $3.18. CSI Compressco has a fifty-two week low of $2.10 and a fifty-two week high of $5.58.

Hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC acquired a new stake in CSI Compressco in the 3rd quarter valued at about $29,000. Marshall Wace LLP acquired a new stake in CSI Compressco in the 1st quarter valued at about $76,000. Lapides Asset Management LLC raised its position in CSI Compressco by 15.7% in the 2nd quarter. Lapides Asset Management LLC now owns 41,900 shares of the oil and gas company’s stock valued at $148,000 after purchasing an additional 5,700 shares in the last quarter. Hilltop Holdings Inc. raised its position in CSI Compressco by 89.7% in the 2nd quarter. Hilltop Holdings Inc. now owns 208,050 shares of the oil and gas company’s stock valued at $736,000 after purchasing an additional 98,350 shares in the last quarter. Finally, Wiley BROS. Aintree Capital LLC raised its position in CSI Compressco by 15.9% in the 2nd quarter. Wiley BROS. Aintree Capital LLC now owns 337,319 shares of the oil and gas company’s stock valued at $1,194,000 after purchasing an additional 46,175 shares in the last quarter. 25.81% of the stock is currently owned by institutional investors.

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

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