Shares of CSI Compressco LP (NASDAQ:CCLP) have been assigned an average rating of “Hold” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $6.00.
A number of research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of CSI Compressco from $5.00 to $7.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Zacks Investment Research raised shares of CSI Compressco from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 target price (up from $5.00) on shares of CSI Compressco in a report on Thursday, November 9th. Finally, ValuEngine cut shares of CSI Compressco from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd.
Institutional investors have recently modified their holdings of the business. Deutsche Bank AG raised its holdings in shares of CSI Compressco by 60,459.8% during the fourth quarter. Deutsche Bank AG now owns 244,056 shares of the oil and gas company’s stock valued at $1,334,000 after purchasing an additional 243,653 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of CSI Compressco during the fourth quarter valued at approximately $1,150,000. Hudson Bay Capital Management LP raised its holdings in shares of CSI Compressco by 46.6% during the fourth quarter. Hudson Bay Capital Management LP now owns 350,931 shares of the oil and gas company’s stock valued at $1,920,000 after purchasing an additional 111,615 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in shares of CSI Compressco by 9.8% during the fourth quarter. OppenheimerFunds Inc. now owns 3,627,135 shares of the oil and gas company’s stock valued at $19,840,000 after purchasing an additional 324,027 shares during the last quarter. Finally, WealthTrust Axiom LLC raised its holdings in shares of CSI Compressco by 10.1% during the fourth quarter. WealthTrust Axiom LLC now owns 256,668 shares of the oil and gas company’s stock valued at $1,403,000 after purchasing an additional 23,521 shares during the last quarter. 27.40% of the stock is owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Thursday, February 1st will be issued a $0.1875 dividend. The ex-dividend date is Wednesday, January 31st. This represents a $0.75 annualized dividend and a yield of 11.57%. CSI Compressco’s dividend payout ratio (DPR) is presently -61.98%.
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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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