CSI Compressco LP (CCLP) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS
CSI Compressco LP (NASDAQ:CCLP) issued its earnings results on Tuesday. The oil and gas company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.04, Bloomberg Earnings reports. CSI Compressco had a negative return on equity of 30.77% and a negative net margin of 16.39%.
CSI Compressco (NASDAQ CCLP) traded up 5.49% on Tuesday, reaching $4.80. The company had a trading volume of 35,304 shares. The firm’s market cap is $165.57 million. CSI Compressco has a one year low of $4.12 and a one year high of $13.54.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Tuesday, August 1st will be given a dividend of $0.1875 per share. The ex-dividend date is Friday, July 28th. This represents a $0.75 dividend on an annualized basis and a yield of 16.48%. CSI Compressco’s dividend payout ratio is currently -52.45%.
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Several large investors have recently added to or reduced their stakes in CCLP. Citadel Advisors LLC bought a new stake in CSI Compressco during the first quarter valued at $136,000. Raymond James Trust N.A. raised its stake in CSI Compressco by 4.5% in the first quarter. Raymond James Trust N.A. now owns 27,800 shares of the oil and gas company’s stock valued at $273,000 after buying an additional 1,200 shares in the last quarter. Robotti Robert raised its stake in CSI Compressco by 38.6% in the first quarter. Robotti Robert now owns 32,320 shares of the oil and gas company’s stock valued at $317,000 after buying an additional 9,000 shares in the last quarter. Texas Yale Capital Corp. raised its stake in CSI Compressco by 75.0% in the first quarter. Texas Yale Capital Corp. now owns 35,000 shares of the oil and gas company’s stock valued at $343,000 after buying an additional 15,000 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in CSI Compressco by 77.0% in the fourth quarter. Renaissance Technologies LLC now owns 38,593 shares of the oil and gas company’s stock valued at $376,000 after buying an additional 16,793 shares in the last quarter. Institutional investors own 28.79% of the company’s stock.
Several brokerages have recently commented on CCLP. Zacks Investment Research upgraded CSI Compressco from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Stifel Nicolaus decreased their target price on CSI Compressco from $9.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, May 10th. Finally, Royal Bank Of Canada decreased their target price on CSI Compressco from $12.00 to $9.00 and set a “sector perform” rating for the company in a research report on Monday, April 24th.
CSI Compressco Company Profile
CSI Compressco LP is a provider of compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. The Company sells custom-designed compressor packages and oilfield fluid pump systems, and provides aftermarket services and compressor package parts and components manufactured by third-party suppliers.
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