Cypress Energy Partners LP (CELP) Downgraded by Zacks Investment Research to “Strong Sell”
Cypress Energy Partners LP (NYSE:CELP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Monday.
According to Zacks, “Cypress Energy Partners, L.P. offers saltwater disposal and other water and environmental services to U.S. onshore oil and natural gas producers and trucking companies primarily in North Dakota and west Texas. The Company operates in two segments: Water and Environmental Services and Pipeline Inspection and Integrity Services. It also provides independent pipeline inspection and integrity services to producers and pipeline companies. Cypress Energy Partners, L.P. is headquartered in Tulsa, Oklahoma. “
Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus raised shares of Cypress Energy Partners from a “hold” rating to a “buy” rating and set a $10.50 target price on the stock in a report on Wednesday, September 28th. Raymond James Financial Inc. cut shares of Cypress Energy Partners from an “outperform” rating to a “market perform” rating in a report on Monday, August 15th.
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Cypress Energy Partners (NYSE:CELP) traded down 4.146% during mid-day trading on Monday, hitting $9.595. The stock had a trading volume of 35,553 shares. Cypress Energy Partners has a 12-month low of $5.28 and a 12-month high of $12.44. The company has a 50-day moving average of $9.22 and a 200-day moving average of $9.22. The firm’s market cap is $113.72 million.
Cypress Energy Partners (NYSE:CELP) last issued its earnings results on Friday, August 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.53. Cypress Energy Partners had a positive return on equity of 0.26% and a negative net margin of 1.28%. The business earned $72.30 million during the quarter, compared to the consensus estimate of $75.77 million. Analysts expect that Cypress Energy Partners will post $0.86 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of the company. Raymond James & Associates boosted its position in shares of Cypress Energy Partners by 22.9% in the second quarter. Raymond James & Associates now owns 33,036 shares of the company’s stock worth $322,000 after buying an additional 6,150 shares in the last quarter. Clarkston Capital Partners LLC boosted its position in shares of Cypress Energy Partners by 150.0% in the second quarter. Clarkston Capital Partners LLC now owns 50,000 shares of the company’s stock worth $487,000 after buying an additional 30,000 shares in the last quarter. Finally, Trellus Management Company LLC boosted its position in shares of Cypress Energy Partners by 22.0% in the second quarter. Trellus Management Company LLC now owns 61,648 shares of the company’s stock worth $600,000 after buying an additional 11,100 shares in the last quarter. 3.40% of the stock is currently owned by hedge funds and other institutional investors.
About Cypress Energy Partners
Cypress Energy Partners, L.P. is a limited partnership company, which serves energy companies throughout North America. The Company provides independent pipeline inspection and integrity services to producers and pipeline companies and water and environmental services with salt water disposal (SWD) facilities to the United States onshore oil and natural gas producers and trucking companies.
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