Short Interest in CSI Compressco LP (NASDAQ:CCLP) Drops By 7.4%

CSI Compressco LP (NASDAQ:CCLP – Get Rating) saw a significant decrease in short interest in February. As of February 28th, there was short interest totalling 189,500 shares, a decrease of 7.4% from the February 13th total of 204,600 shares. Based on an average daily volume of 152,500 shares, the days-to-cover ratio is presently 1.2 days.

CSI Compressco Price Performance

NASDAQ CCLP opened at $1.18 on Friday. The company’s 50-day simple moving average is $1.37 and its two-hundred day simple moving average is $1.30. CSI Compressco has a one year low of $1.04 and a one year high of $1.60.

CSI Compressco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, January 30th. This represents a $0.04 dividend on an annualized basis and a yield of 3.39%. CSI Compressco’s dividend payout ratio is currently -25.00%.

Institutional Trading of CSI Compressco

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. lifted its stake in shares of CSI Compressco by 105.3% during the 1st quarter. Invesco Ltd. now owns 10,829,797 shares of the oil and gas company’s stock worth $15,162,000 after purchasing an additional 5,555,555 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of CSI Compressco during the first quarter valued at about $3,458,000. JPMorgan Chase & Co. bought a new stake in shares of CSI Compressco in the 4th quarter valued at about $2,150,000. Bank of America Corp DE grew its position in shares of CSI Compressco by 1.2% in the 4th quarter. Bank of America Corp DE now owns 834,114 shares of the oil and gas company’s stock worth $1,109,000 after buying an additional 9,831 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of CSI Compressco by 17,665.0% in the 4th quarter. Wells Fargo & Company MN now owns 182,802 shares of the oil and gas company’s stock worth $243,000 after buying an additional 181,773 shares during the last quarter. Institutional investors own 16.81% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on CSI Compressco in a research report on Monday. They set a “buy” rating for the company.

About CSI Compressco

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CSI Compressco LP engages in the provision of compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage. It operates through the following geographical segments: United States, Latin America, Canada, and Other. The firm offers compression services, digitally enhanced compression, and parts and services.