CSI Compressco (NASDAQ:CCLP) Stock Passes Above 200-Day Moving Average of $1.68

CSI Compressco LP (NASDAQ:CCLP)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.68 and traded as high as $2.34. CSI Compressco shares last traded at $2.33, with a volume of 127,316 shares traded.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of CSI Compressco in a research report on Friday. They set a “buy” rating on the stock.

CSI Compressco Stock Performance

The company has a market capitalization of $332.03 million, a PE ratio of -33.29 and a beta of 0.73. The company’s 50-day simple moving average is $2.05 and its 200-day simple moving average is $1.68.

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

CSI Compressco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Tuesday, January 30th. CSI Compressco’s payout ratio is -57.14%.

Institutional Trading of CSI Compressco

Several hedge funds and other institutional investors have recently made changes to their positions in CCLP. Invesco Ltd. boosted its holdings in shares of CSI Compressco by 105.3% in the first quarter. Invesco Ltd. now owns 10,829,797 shares of the oil and gas company’s stock valued at $15,162,000 after acquiring an additional 5,555,555 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in CSI Compressco during the first quarter worth about $3,458,000. JPMorgan Chase & Co. purchased a new stake in CSI Compressco during the fourth quarter worth about $2,150,000. Wells Fargo & Company MN boosted its holdings in 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 buying an additional 181,773 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in CSI Compressco during the fourth quarter worth about $262,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

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.