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

Posted by on Jun 7th, 2023

Stock analysts at StockNews.com initiated coverage on shares of CSI Compressco (NASDAQ:CCLP – Get Rating) in a research report issued on Wednesday. The firm set a “buy” rating on the oil and gas company’s stock.

CSI Compressco Price Performance

Shares of CSI Compressco stock opened at $1.08 on Wednesday. The business’s fifty day moving average price is $1.16 and its two-hundred day moving average price is $1.27. The company has a market capitalization of $153.35 million, a P/E ratio of -8.31 and a beta of 0.96. CSI Compressco has a 1-year low of $1.04 and a 1-year high of $1.60.

CSI Compressco (NASDAQ:CCLP – Get Rating) last announced its earnings results on Friday, March 10th. The oil and gas company reported ($0.03) earnings per share for the quarter. The business had revenue of $93.97 million during the quarter.

Institutional Trading of CSI Compressco

A number of hedge funds and other institutional investors have recently modified their holdings of CCLP. Huber Capital Management LLC raised its position in shares of CSI Compressco by 2.3% during the first quarter. Huber Capital Management LLC now owns 1,183,004 shares of the oil and gas company’s stock worth $1,455,000 after purchasing an additional 26,893 shares during the period. WealthTrust Axiom LLC raised 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 during the period. Syntal Capital Partners LLC acquired a new stake in shares of CSI Compressco during the first quarter worth $131,000. Jane Street Group LLC acquired a new stake in shares of CSI Compressco during the fourth quarter worth $26,000. Finally, Wells Fargo & Company MN raised its position in shares of CSI Compressco by 17,665.0% during the fourth quarter. Wells Fargo & Company MN now owns 182,802 shares of the oil and gas company’s stock worth $243,000 after purchasing an additional 181,773 shares during the period. Institutional investors own 16.81% of the company’s stock.

CSI Compressco Company Profile

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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.

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