CSI Compressco (NASDAQ:CCLP) Receives New Coverage from Analysts at StockNews.com

Research analysts at StockNews.com began coverage on shares of CSI Compressco (NASDAQ:CCLP) in a research note issued on Sunday. The firm set a “buy” rating on the oil and gas company’s stock.

CSI Compressco Stock Performance

Shares of CCLP stock opened at $1.16 on Friday. CSI Compressco has a fifty-two week low of $1.04 and a fifty-two week high of $1.49. The stock has a 50 day moving average price of $1.16 and a two-hundred day moving average price of $1.20. The company has a market capitalization of $164.71 million, a P/E ratio of -11.60 and a beta of 0.97.

CSI Compressco (NASDAQ:CCLP) last released its earnings results on Monday, August 7th. The oil and gas company reported ($0.02) EPS for the quarter. The firm had revenue of $96.78 million during the quarter.

Insider Activity

In related news, CEO John Earl Jackson purchased 25,000 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were purchased at an average cost of $1.30 per share, for a total transaction of $32,500.00. Following the completion of the acquisition, the chief executive officer now owns 863,109 shares in the company, valued at approximately $1,122,041.70. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of CSI Compressco

A number of hedge funds have recently added to or reduced their stakes in CCLP. JPMorgan Chase & Co. lifted its stake in shares of CSI Compressco by 4.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,352,493 shares of the oil and gas company’s stock worth $1,650,000 after purchasing an additional 60,697 shares during the last quarter. BNP Paribas Arbitrage SNC boosted its stake in CSI Compressco by 53.7% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 70,657 shares of the oil and gas company’s stock worth $89,000 after purchasing an additional 24,693 shares during the last quarter. AEGON USA Investment Management LLC increased its stake in shares of CSI Compressco by 1.7% in the 2nd quarter. AEGON USA Investment Management LLC now owns 1,596,478 shares of the oil and gas company’s stock worth $1,948,000 after acquiring an additional 27,304 shares during the last quarter. Huber Capital Management LLC raised its holdings in CSI Compressco by 2.3% in the 1st quarter. Huber Capital Management LLC now owns 1,183,004 shares of the oil and gas company’s stock valued at $1,455,000 after buying an additional 26,893 shares during the period. Finally, WealthTrust Axiom LLC lifted its position in shares of CSI Compressco by 6.7% during the first quarter. WealthTrust Axiom LLC now owns 169,262 shares of the oil and gas company’s stock worth $208,000 after purchasing an additional 10,600 shares in the last quarter. 23.33% 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.