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

Posted by on Jun 23rd, 2023

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

CSI Compressco Stock Performance

Shares of CCLP stock opened at $1.20 on Friday. The stock’s 50 day simple moving average is $1.17 and its 200 day simple moving average is $1.27. CSI Compressco has a twelve month low of $1.04 and a twelve month high of $1.50. The company has a market capitalization of $170.39 million, a price-to-earnings ratio of -9.23 and a beta of 0.96.

CSI Compressco (NASDAQ:CCLP – Get Rating) last released its earnings results on Thursday, May 4th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $91.37 million during the quarter.

Institutional Trading of CSI Compressco

Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of CSI Compressco by 1.2% during the 4th quarter. Bank of America Corp DE now owns 834,114 shares of the oil and gas company’s stock worth $1,109,000 after purchasing an additional 9,831 shares in the last quarter. WealthTrust Axiom LLC grew its holdings in shares of CSI Compressco by 6.7% during the 1st 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. Jane Street Group LLC acquired a new stake in shares of CSI Compressco during the 4th quarter worth approximately $26,000. Huber Capital Management LLC grew its holdings in shares of CSI Compressco by 2.3% during the 1st 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 in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of CSI Compressco during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 17.86% 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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