CSI Compressco LP (NASDAQ:CCLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “CSI Compressco LP offers compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. Its equipment and parts sales business includes the fabrication and sale of standard compressor packages, custom-designed compressor packages and engine-driven oilfield fluid pump systems designed. The company offers well monitoring and automated sand separation services as well as compressor package reconfiguration and maintenance services. CSI Compressco LP, formerly known as Compressco Partners, L.P., is headquartered in Oklahoma City. “

A number of other brokerages also recently issued reports on CCLP. ValuEngine raised CSI Compressco from a “strong sell” rating to a “sell” rating in a research report on Monday, October 2nd. Bank of America Corporation reduced their price target on CSI Compressco from $6.50 to $5.00 and set an “underperform” rating on the stock in a research report on Wednesday, August 23rd. Stifel Nicolaus set a $5.00 price target on CSI Compressco and gave the stock a “hold” rating in a research report on Friday, August 25th. Royal Bank Of Canada reissued a “hold” rating and set a $8.00 price target on shares of CSI Compressco in a research report on Monday, August 21st. Finally, Capital One Financial Corporation reissued an “equal weight” rating on shares of CSI Compressco in a research report on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. CSI Compressco has an average rating of “Hold” and a consensus target price of $6.00.

Shares of CSI Compressco (NASDAQ CCLP) traded down 0.53% during mid-day trading on Tuesday, reaching $5.62. The company had a trading volume of 146,861 shares. CSI Compressco has a 12-month low of $4.12 and a 12-month high of $13.54.

CSI Compressco (NASDAQ:CCLP) last issued its quarterly earnings results on Tuesday, August 8th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.04. The business had revenue of $75.32 million for the quarter, compared to the consensus estimate of $66.64 million. CSI Compressco had a negative return on equity of 36.43% and a negative net margin of 17.01%. Equities research analysts predict that CSI Compressco will post ($1.10) earnings per share for the current year.

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Hedge funds have recently modified their holdings of the business. Citadel Advisors LLC acquired a new stake in shares of CSI Compressco in the 1st quarter valued at $136,000. Virtu KCG Holdings LLC acquired a new stake in shares of CSI Compressco in the 2nd quarter valued at $146,000. Aegis Financial Corp boosted its holdings in shares of CSI Compressco by 22.0% in the 2nd quarter. Aegis Financial Corp now owns 61,000 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 11,000 shares in the last quarter. Parkwood LLC boosted its holdings in shares of CSI Compressco by 69.8% in the 2nd quarter. Parkwood LLC now owns 111,621 shares of the oil and gas company’s stock valued at $541,000 after purchasing an additional 45,900 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of CSI Compressco by 99.3% in the 1st quarter. Renaissance Technologies LLC now owns 76,912 shares of the oil and gas company’s stock valued at $754,000 after purchasing an additional 38,319 shares in the last quarter. 28.67% of the stock is currently owned by hedge funds and other institutional investors.

About CSI Compressco

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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