Short Interest in CSI Compressco LP (NASDAQ:CCLP) Grows By 20.8%

CSI Compressco LP (NASDAQ:CCLP) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 98,600 shares, an increase of 20.8% from the August 15th total of 81,600 shares. Based on an average trading volume of 57,100 shares, the short-interest ratio is currently 1.7 days.

CSI Compressco Stock Performance

NASDAQ CCLP traded down $0.08 on Monday, hitting $1.15. 50,781 shares of the stock traded hands, compared to its average volume of 81,095. CSI Compressco has a 12 month low of $1.04 and a 12 month high of $1.49. The business’s fifty day moving average is $1.16 and its two-hundred day moving average is $1.19. The firm has a market capitalization of $163.29 million, a price-to-earnings ratio of -11.50 and a beta of 0.97.

CSI Compressco (NASDAQ:CCLP) last posted its quarterly earnings results on Monday, August 7th. The oil and gas company reported ($0.02) EPS for the quarter. The firm had revenue of $96.78 million during the quarter.

CSI Compressco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Friday, July 28th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday, July 27th. CSI Compressco’s payout ratio is currently -40.00%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on CSI Compressco in a report on Monday, September 11th. They set a “buy” rating for the company.

Insider Activity

In other CSI Compressco news, CEO John Earl Jackson bought 25,000 shares of CSI Compressco stock in a transaction dated Friday, June 30th. The stock was bought at an average cost of $1.30 per share, with a total value of $32,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 863,109 shares in the company, valued at approximately $1,122,041.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CSI Compressco

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of CSI Compressco by 4.7% in the second quarter. JPMorgan Chase & Co. now owns 1,352,493 shares of the oil and gas company’s stock worth $1,650,000 after acquiring an additional 60,697 shares during the period. Bank of America Corp DE raised its position in shares of CSI Compressco by 1.2% in 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 buying an additional 9,831 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of CSI Compressco by 17,665.0% in the fourth 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 in the last quarter. BNP Paribas Arbitrage SA purchased a new stake in shares of CSI Compressco in the first quarter worth $132,000. Finally, UBS Group AG raised its position in shares of CSI Compressco by 1,088.8% in the fourth quarter. UBS Group AG now owns 75,739 shares of the oil and gas company’s stock worth $101,000 after buying an additional 69,368 shares in the last quarter. 23.33% of the stock is owned by institutional investors.

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.