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

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

CSI Compressco Trading Up 3.9 %

CSI Compressco stock 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 50-day moving average of $2.22 and a 200-day moving average of $1.83. CSI Compressco has a 1 year low of $1.04 and a 1 year high of $2.44.

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 company had revenue of $98.27 million for the quarter.

Institutional Trading of CSI Compressco

Hedge funds have recently added to or reduced their stakes in the business. King Luther Capital Management Corp bought a new stake in shares of CSI Compressco in the fourth quarter worth about $204,000. PenderFund Capital Management Ltd. acquired a new position in shares of CSI Compressco in the 4th quarter valued at approximately $135,000. Raymond James Financial Services Advisors Inc. bought a new stake in CSI Compressco during the 3rd quarter worth approximately $49,000. Finally, Crystalline Management Inc. acquired a new stake in CSI Compressco during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds 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.