Cypress Energy Partners LP (CELP) Downgraded by Zacks Investment Research
Cypress Energy Partners LP (NYSE:CELP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors 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. “
Several other equities research analysts have also issued reports on the stock. Stifel Nicolaus upgraded shares of Cypress Energy Partners from a “hold” rating to a “buy” rating and set a $10.50 price target for the company in a research note on Wednesday, September 28th. Raymond James Financial Inc. lowered shares of Cypress Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, August 15th.
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Shares of Cypress Energy Partners (NYSE:CELP) traded down 4.146% on Monday, reaching $9.595. 35,553 shares of the company’s stock traded hands. The company’s 50-day moving average price is $9.22 and its 200 day moving average price is $9.22. The firm’s market cap is $113.72 million. Cypress Energy Partners has a one year low of $5.28 and a one year high of $12.44.
Cypress Energy Partners (NYSE:CELP) last issued its quarterly earnings results on Friday, August 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $72.30 million for the quarter, compared to analysts’ expectations of $75.77 million. On average, equities analysts forecast that Cypress Energy Partners will post $0.86 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates increased its position in Cypress Energy Partners by 22.9% in the second quarter. Raymond James & Associates now owns 33,036 shares of the company’s stock valued at $322,000 after buying an additional 6,150 shares during the period. Clarkston Capital Partners LLC increased its position in Cypress Energy Partners by 150.0% in the second quarter. Clarkston Capital Partners LLC now owns 50,000 shares of the company’s stock valued at $487,000 after buying an additional 30,000 shares during the period. Finally, Trellus Management Company LLC increased its position in Cypress Energy Partners by 22.0% in the second quarter. Trellus Management Company LLC now owns 61,648 shares of the company’s stock valued at $600,000 after buying an additional 11,100 shares during the period. 3.40% of the stock is owned by institutional investors.
Cypress Energy Partners Company Profile
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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