OCI Partners LP (OCIP) Stock Rating Upgraded by TheStreet
OCI Partners LP (NYSE:OCIP) was upgraded by research analysts at TheStreet from a “sell” rating to a “hold” rating in a report released on Monday.
Separately, Citigroup Inc. decreased their price objective on OCI Partners from $8.00 to $6.50 and set a “neutral” rating on the stock in a report on Monday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. OCI Partners currently has an average rating of “Hold” and a consensus price target of $8.33.
Shares of OCI Partners (NYSE:OCIP) traded up 0.68% during midday trading on Monday, reaching $5.90. The company’s stock had a trading volume of 10,418 shares. The firm has a market capitalization of $513.28 million, a price-to-earnings ratio of 31.72 and a beta of 1.17. OCI Partners has a 52 week low of $5.46 and a 52 week high of $10.26. The firm’s 50 day moving average is $5.92 and its 200 day moving average is $6.85.
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OCI Partners (NYSE:OCIP) last posted its quarterly earnings data on Friday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by $0.04. OCI Partners had a return on equity of 7.34% and a net margin of 5.07%. Equities analysts forecast that OCI Partners will post ($0.42) EPS for the current fiscal year.
In other news, insider Nassef Sawiris bought 36,100 shares of OCI Partners stock in a transaction that occurred on Tuesday, September 13th. The shares were purchased at an average price of $6.04 per share, for a total transaction of $218,044.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Credit Capital Investments LLC boosted its position in shares of OCI Partners by 655.0% in the second quarter. Credit Capital Investments LLC now owns 596,487 shares of the company’s stock worth $596,000 after buying an additional 517,482 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of OCI Partners by 293.7% in the first quarter. Renaissance Technologies LLC now owns 116,178 shares of the company’s stock worth $878,000 after buying an additional 86,670 shares during the last quarter. Citigroup Inc. boosted its position in shares of OCI Partners by 197.4% in the second quarter. Citigroup Inc. now owns 27,206 shares of the company’s stock worth $205,000 after buying an additional 18,057 shares during the last quarter. Finally, ING Groep NV purchased a new position in shares of OCI Partners during the first quarter worth $140,000. Hedge funds and other institutional investors own 13.80% of the company’s stock.
About OCI Partners
OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is located on the Texas Gulf Coast near Beaumont. The Company has an annual methanol production capacity of approximately 912,500 metric tons and an annual ammonia production capacity of approximately 331,000 metric tons.
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