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

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

CSI Compressco Stock Up 1.8 %

Shares of CCLP stock opened at $1.15 on Monday. The company has a 50 day moving average price of $1.16 and a 200-day moving average price of $1.19. CSI Compressco has a 52 week low of $1.04 and a 52 week high of $1.49. The firm has a market capitalization of $163.29 million, a PE ratio of -11.50 and a beta of 0.97.

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

CSI Compressco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Friday, July 28th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $0.04 annualized dividend and a yield of 3.48%. CSI Compressco’s dividend payout ratio (DPR) is -40.00%.

Insider Activity at CSI Compressco

In other CSI Compressco news, CEO John Earl Jackson bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was bought at an average cost of $1.30 per share, for a total transaction of $32,500.00. Following the completion of the transaction, the chief executive officer now owns 863,109 shares of the company’s stock, valued at approximately $1,122,041.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CSI Compressco

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in shares of CSI Compressco by 1.2% in the fourth quarter. Bank of America Corp DE now owns 834,114 shares of the oil and gas company’s stock worth $1,109,000 after buying an additional 9,831 shares in the last quarter. WealthTrust Axiom LLC lifted its holdings in shares of CSI Compressco by 6.7% in the first quarter. WealthTrust Axiom LLC now owns 169,262 shares of the oil and gas company’s stock worth $208,000 after buying an additional 10,600 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of CSI Compressco in the fourth quarter worth $26,000. BNP Paribas Arbitrage SNC lifted its holdings in shares of CSI Compressco by 53.7% in the second quarter. BNP Paribas Arbitrage SNC now owns 70,657 shares of the oil and gas company’s stock worth $89,000 after buying an additional 24,693 shares in the last quarter. Finally, Huber Capital Management LLC lifted its holdings in shares of CSI Compressco by 2.3% in 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 buying an additional 26,893 shares in the last quarter. 23.33% of the stock is currently owned by 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.