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

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

CSI Compressco Trading Up 3.9 %

NASDAQ CCLP opened at $2.42 on Monday. The firm has a market capitalization of $344.85 million, a P/E ratio of -34.57 and a beta of 0.75. The business has a fifty day simple moving average of $2.21 and a 200 day simple moving average of $1.82. CSI Compressco has a 12 month low of $1.04 and a 12 month high of $2.44.

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

Institutional Investors Weigh In On CSI Compressco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Crystalline Management Inc. purchased a new stake in CSI Compressco in the 4th quarter valued at $29,000. Jane Street Group LLC bought a new position in CSI Compressco in the 4th quarter valued at $26,000. Virtu Financial LLC bought a new position in CSI Compressco in the 2nd quarter valued at $39,000. Raymond James Financial Services Advisors Inc. bought a new position in CSI Compressco in the 3rd quarter valued at $49,000. Finally, BNP Paribas Arbitrage SNC grew its stake in CSI Compressco by 53.7% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 70,657 shares of the oil and gas company’s stock valued at $89,000 after purchasing an additional 24,693 shares during the period. 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.