CSI Compressco (NASDAQ:CCLP) Now Covered by StockNews.com

Analysts at StockNews.com started coverage on shares of CSI Compressco (NASDAQ:CCLP) in a research report issued to clients and investors on Sunday. The brokerage set a “buy” rating on the oil and gas company’s stock.

CSI Compressco Trading Up 3.9 %

NASDAQ:CCLP opened at $2.42 on Friday. The firm has a market cap of $344.85 million, a P/E ratio of -34.57 and a beta of 0.75. The stock’s 50 day simple moving average is $2.17 and its 200-day simple moving average is $1.78. CSI Compressco has a 12-month low of $1.04 and a 12-month high of $2.44.

CSI Compressco (NASDAQ:CCLP) last posted its quarterly earnings results on Friday, March 1st. The oil and gas company reported ($0.02) earnings per share for the quarter. The company had revenue of $98.27 million during the quarter.

Institutional Trading of CSI Compressco

A number of institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its position in CSI Compressco by 1.2% during the fourth quarter. Bank of America Corp DE now owns 834,114 shares of the oil and gas company’s stock worth $1,109,000 after purchasing an additional 9,831 shares in the last quarter. Crystalline Management Inc. purchased a new stake in CSI Compressco during the fourth quarter worth $29,000. Jane Street Group LLC purchased a new stake in CSI Compressco during the fourth quarter worth $26,000. BNP Paribas Arbitrage SNC boosted its position in CSI Compressco by 53.7% during the second quarter. BNP Paribas Arbitrage SNC now owns 70,657 shares of the oil and gas company’s stock worth $89,000 after purchasing an additional 24,693 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in CSI Compressco during the second quarter worth $39,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

About CSI Compressco

CSI Compressco LP provides contract services for natural gas compression and treating in the United States, Latin America, Canada, Egypt, and internationally. The company offers natural gas compression services through low-, medium-, and high-horsepower compressor packages for oil and natural gas production, gathering, artificial lift, transmission, processing, and storage.