CSI Compressco (NASDAQ:CCLP) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com began coverage on shares of CSI Compressco (NASDAQ:CCLP) in a note issued to investors on Thursday. The firm set a “buy” rating on the oil and gas company’s stock.

CSI Compressco Trading Down 2.3 %

Shares of CCLP stock opened at $2.32 on Thursday. The business’s 50-day moving average price is $2.00 and its 200-day moving average price is $1.65. CSI Compressco has a 12 month low of $1.04 and a 12 month high of $2.38. The firm has a market capitalization of $329.89 million, a price-to-earnings ratio of -33.07 and a beta of 0.73.

Institutional Investors Weigh In On CSI Compressco

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC bought a new stake in CSI Compressco in the fourth quarter valued at approximately $26,000. Crystalline Management Inc. bought a new position in CSI Compressco during the fourth quarter worth $29,000. Virtu Financial LLC bought a new position in CSI Compressco during the second quarter worth $39,000. Raymond James Financial Services Advisors Inc. acquired a new position in CSI Compressco in the third quarter valued at $49,000. Finally, BNP Paribas Arbitrage SNC lifted its holdings in CSI Compressco by 53.7% in the second quarter. BNP Paribas Arbitrage SNC now owns 70,657 shares of the oil and gas company’s stock valued at $89,000 after buying an additional 24,693 shares during the period. Institutional investors and hedge funds own 23.33% of the company’s stock.

CSI Compressco Company Profile

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.