CSI Compressco LP (NASDAQ:CCLP) saw a large drop in short interest during the month of October. As of October 13th, there was short interest totalling 811,563 shares, a drop of 22.0% from the September 29th total of 1,040,605 shares. Approximately 4.0% of the shares of the company are short sold. Based on an average daily trading volume, of 123,956 shares, the days-to-cover ratio is presently 6.5 days.

CSI Compressco (CCLP) opened at 5.12 on Friday. The stock’s market capitalization is $181.73 million. The firm’s 50-day moving average is $5.11 and its 200-day moving average is $5.58. CSI Compressco has a 52-week low of $4.12 and a 52-week 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 for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.04. CSI Compressco had a negative return on equity of 36.43% and a negative net margin of 17.01%. The firm had revenue of $75.32 million during the quarter, compared to the consensus estimate of $66.64 million. Analysts predict that CSI Compressco will post ($1.10) earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Wednesday, November 1st will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 14.65%. The ex-dividend date of this dividend is Tuesday, October 31st. CSI Compressco’s dividend payout ratio is presently -50.00%.

CCLP has been the subject of a number of recent research reports. Zacks Investment Research raised shares of CSI Compressco from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Capital One Financial Corporation reissued an “equal weight” rating on shares of CSI Compressco in a research report on Tuesday, August 8th. 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. Bank of America Corporation reduced their price target on shares of CSI Compressco from $6.50 to $5.00 and set an “underperform” rating for the company in a research report on Wednesday, August 23rd. Finally, Stifel Nicolaus set a $5.00 price target on shares of CSI Compressco and gave the stock a “hold” rating in a research report on Friday, August 25th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $6.00.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC lifted its holdings in shares of CSI Compressco by 91.7% during the second quarter. FMR LLC now owns 1,353,231 shares of the oil and gas company’s stock worth $6,563,000 after purchasing an additional 647,176 shares during the period. WealthTrust Axiom LLC lifted its holdings in shares of CSI Compressco by 13.8% during the second quarter. WealthTrust Axiom LLC now owns 235,575 shares of the oil and gas company’s stock worth $1,142,000 after purchasing an additional 28,516 shares during the period. Airain ltd acquired a new stake in shares of CSI Compressco during the second quarter worth $796,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of CSI Compressco by 9.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 122,770 shares of the oil and gas company’s stock worth $640,000 after purchasing an additional 10,232 shares during the period. Finally, Parkwood LLC lifted its holdings in shares of CSI Compressco by 69.8% during the second quarter. Parkwood LLC now owns 111,621 shares of the oil and gas company’s stock worth $541,000 after purchasing an additional 45,900 shares during the period. 28.62% of the stock is owned by hedge funds and other institutional investors.

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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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