OCI Partners LP (OCIP) Downgraded by BidaskClub
OCI Partners LP (NYSE:OCIP) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday.
Other research analysts have also issued research reports about the stock. Citigroup Inc. set a $7.00 target price on shares of OCI Partners and gave the stock a “sell” rating in a research note on Monday, August 14th. ValuEngine raised shares of OCI Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th.
Shares of OCI Partners (NYSE:OCIP) traded down 0.61% during midday trading on Friday, reaching $8.20. 12,454 shares of the company were exchanged. OCI Partners has a 52 week low of $4.95 and a 52 week high of $10.35. The firm’s market capitalization is $713.38 million. The firm has a 50-day moving average of $8.42 and a 200 day moving average of $8.92.
OCI Partners (NYSE:OCIP) last announced its earnings results on Monday, August 7th. 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). The company had revenue of $73.97 million for the quarter. OCI Partners had a negative return on equity of 10.52% and a negative net margin of 5.60%. On average, equities research analysts expect that OCI Partners will post $0.46 EPS for the current year.
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In other OCI Partners news, insider Nathaniel A. Gregory acquired 10,000 shares of the stock in a transaction dated Friday, September 8th. The stock was acquired at an average price of $8.35 per share, with a total value of $83,500.00. Following the completion of the purchase, the insider now owns 10,000 shares in the company, valued at approximately $83,500. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bard Associates Inc. boosted its stake in shares of OCI Partners by 1.0% in the second quarter. Bard Associates Inc. now owns 144,400 shares of the basic materials company’s stock valued at $1,278,000 after purchasing an additional 1,500 shares during the period. Renaissance Technologies LLC boosted its stake in shares of 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 purchasing an additional 7,418 shares during the period. Quinn Opportunity Partners LLC boosted its stake in shares of OCI Partners by 32.1% in the second quarter. Quinn Opportunity Partners LLC now owns 55,985 shares of the basic materials company’s stock valued at $495,000 after purchasing an additional 13,600 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of OCI Partners in the first quarter valued at approximately $440,000. Finally, Cowen Group Inc. boosted its stake in shares of 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 purchasing an additional 46,275 shares during the period. 14.98% of the stock is owned by institutional investors and hedge funds.
OCI Partners Company Profile
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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