StockNews.com Begins Coverage on CSI Compressco (NASDAQ:CCLP)

StockNews.com initiated coverage on shares of CSI Compressco (NASDAQ:CCLP) in a research report released on Monday morning. The brokerage issued a buy rating on the oil and gas company’s stock.

CSI Compressco Price Performance

Shares of NASDAQ CCLP opened at $2.42 on Monday. The stock has a market cap of $344.85 million, a PE ratio of -34.57 and a beta of 0.75. The firm has a fifty day moving average price of $2.23 and a 200-day moving average price of $1.84. CSI Compressco has a 1 year low of $1.04 and a 1 year high of $2.44.

CSI Compressco (NASDAQ:CCLP) last posted its 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 for the quarter.

Hedge Funds Weigh In On CSI Compressco

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. bought a new position in CSI Compressco during the third quarter valued at $49,000. PenderFund Capital Management Ltd. bought a new position in CSI Compressco during the fourth quarter valued at $135,000. Crystalline Management Inc. bought a new position in CSI Compressco during the fourth quarter valued at $29,000. Finally, King Luther Capital Management Corp bought a new position in CSI Compressco during the fourth quarter valued at $204,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

About CSI Compressco

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.