CSI Compressco (NASDAQ:CCLP) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com started coverage on shares of CSI Compressco (NASDAQ:CCLP) in a research report issued to clients and investors on Sunday. The brokerage set a “buy” rating on the oil and gas company’s stock.

CSI Compressco Stock Performance

CCLP opened at $2.42 on Friday. CSI Compressco has a 52-week low of $1.04 and a 52-week high of $2.44. The stock has a market capitalization of $344.85 million, a PE ratio of -34.57 and a beta of 0.75. The stock’s 50 day moving average price is $2.18 and its 200-day moving average price is $1.79.

CSI Compressco (NASDAQ:CCLP) last released its quarterly earnings results on Friday, March 1st. The oil and gas company reported ($0.02) earnings per share for the quarter. The company had revenue of $98.27 million during the quarter.

Institutional Investors Weigh In On CSI Compressco

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new stake in CSI Compressco in the fourth quarter worth $26,000. Crystalline Management Inc. bought a new stake in CSI Compressco in the fourth quarter worth $29,000. Virtu Financial LLC bought a new stake in CSI Compressco in the second quarter worth $39,000. Raymond James Financial Services Advisors Inc. bought a new stake in CSI Compressco in the third quarter worth $49,000. Finally, BNP Paribas Arbitrage SNC boosted its holdings in CSI Compressco by 53.7% in the second quarter. BNP Paribas Arbitrage SNC now owns 70,657 shares of the oil and gas company’s stock worth $89,000 after acquiring an additional 24,693 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

CSI Compressco Company Profile

CSI Compressco LP provides contract services for natural gas compression and treating in the United States, Latin America, Canada, Egypt, and internationally. The company offers natural gas compression services through low-, medium-, and high-horsepower compressor packages for oil and natural gas production, gathering, artificial lift, transmission, processing, and storage.