OCI Partners LP (OCIP) Issues Quarterly Earnings Results
OCI Partners LP (NYSE:OCIP) announced its quarterly earnings data on Monday. The basic materials company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.14, Bloomberg Earnings reports. OCI Partners had a negative net margin of 10.94% and a negative return on equity of 18.28%.
Shares of OCI Partners (NYSE:OCIP) remained flat at $8.75 during trading on Monday. 100 shares of the company’s stock traded hands. The firm’s market cap is $761.22 million. OCI Partners has a 12-month low of $4.95 and a 12-month high of $10.35. The firm’s 50-day moving average is $8.89 and its 200 day moving average is $9.15.
Several large investors have recently bought and sold shares of OCIP. Morgan Stanley increased its stake in OCI Partners by 4.3% in the first quarter. Morgan Stanley now owns 10,376,362 shares of the basic materials company’s stock valued at $103,764,000 after buying an additional 428,344 shares in the last quarter. Cowen Group Inc. increased its stake in OCI Partners by 93.7% in the first quarter. Cowen Group Inc. now owns 95,670 shares of the basic materials company’s stock valued at $957,000 after buying an additional 46,275 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in OCI Partners during the first quarter valued at about $440,000. Finally, Renaissance Technologies LLC increased its stake in OCI Partners by 13.9% in the first quarter. Renaissance Technologies LLC now owns 60,608 shares of the basic materials company’s stock valued at $606,000 after buying an additional 7,418 shares in the last quarter. Hedge funds and other institutional investors own 26.96% of the company’s stock.
Several brokerages have weighed in on OCIP. BidaskClub raised OCI Partners from a “sell” rating to a “hold” rating in a report on Friday. Citigroup Inc. cut OCI Partners from a “neutral” rating to a “sell” rating and set a $8.00 price objective for the company. in a report on Monday, April 17th.
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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