Citigroup Inc. Reiterates “Neutral” Rating for OCI Partners (OCIP)
OCI Partners (NASDAQ:OCIP)‘s stock had its “neutral” rating reiterated by equities researchers at Citigroup Inc. in a research report issued on Thursday. They currently have a $20.00 price objective on the stock, down from their previous price objective of $25.00. Citigroup Inc.’s target price would suggest a potential upside of 10.38% from the stock’s previous close.
Separately, analysts at Alembic Global Advisors initiated coverage on shares of OCI Partners in a research note on Monday, June 23rd. They set an “overweight” rating and a $30.00 price target on the stock.
OCI Partners (NASDAQ:OCIP) traded up 5.41% during mid-day trading on Thursday, hitting $19.0999. The stock had a trading volume of 32,277 shares. OCI Partners has a one year low of $16.08 and a one year high of $28.73. The stock has a 50-day moving average of $20.65 and a 200-day moving average of $22.1. The company has a market cap of $1.538 billion and a price-to-earnings ratio of 47.19.
OCI Partners (NASDAQ:OCIP) last announced its earnings results on Tuesday, August 12th. The company reported $0.51 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.64 by $0.13. Analysts expect that OCI Partners will post $1.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 28th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 10.60%. The ex-dividend date is Wednesday, August 20th. This is a positive change from OCI Partners’s previous quarterly dividend of $0.41.
OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is strategically located on the Texas Gulf Coast near Beaumont.
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