Short Interest in CSI Compressco LP (CCLP) Increases By 29.2%

CSI Compressco LP (NASDAQ:CCLP) was the recipient of a large increase in short interest during the month of July. As of July 14th, there was short interest totalling 1,059,437 shares, an increase of 29.2% from the June 30th total of 820,120 shares. Based on an average trading volume of 124,555 shares, the short-interest ratio is currently 8.5 days. Currently, 5.8% of the shares of the company are short sold.

CSI Compressco (NASDAQ CCLP) opened at 4.57 on Friday. The stock’s 50 day moving average is $4.83 and its 200 day moving average is $7.41. 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 data on Tuesday, August 8th. The oil and gas company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.04. CSI Compressco had a negative net margin of 17.01% and a negative return on equity of 36.43%. The business had revenue of $75.32 million during the quarter, compared to analysts’ expectations of $66.64 million. Analysts forecast that CSI Compressco will post ($1.10) earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Tuesday, August 1st were issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 16.41%. The ex-dividend date of this dividend was Friday, July 28th. CSI Compressco’s dividend payout ratio is currently -50.00%.

A number of research firms have weighed in on CCLP. Capital One Financial Corporation reissued an “equal weight” rating on shares of CSI Compressco in a research report on Tuesday, August 8th. Zacks Investment Research raised shares of CSI Compressco from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Stifel Nicolaus cut their target price on shares of CSI Compressco from $9.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, May 10th. Finally, Royal Bank Of Canada cut their target price on shares of CSI Compressco from $12.00 to $9.00 and set a “sector perform” rating for the company in a research report on Monday, April 24th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $9.50.

A number of institutional investors have recently added to or reduced their stakes in CCLP. Aegis Financial Corp raised its position in CSI Compressco by 22.0% in the second quarter. Aegis Financial Corp now owns 61,000 shares of the oil and gas company’s stock valued at $296,000 after buying an additional 11,000 shares in the last quarter. Virtu KCG Holdings LLC purchased a new position in CSI Compressco during the second quarter valued at approximately $146,000. FMR LLC raised its position in CSI Compressco by 91.7% in the second quarter. FMR LLC now owns 1,353,231 shares of the oil and gas company’s stock valued at $6,563,000 after buying an additional 647,176 shares in the last quarter. Airain ltd purchased a new position in CSI Compressco during the second quarter valued at approximately $796,000. Finally, WealthTrust Axiom LLC raised its position in CSI Compressco by 13.8% in the second quarter. WealthTrust Axiom LLC now owns 235,575 shares of the oil and gas company’s stock valued at $1,142,000 after buying an additional 28,516 shares in the last quarter. 28.24% of the stock is currently 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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