CSI Compressco LP (CCLP) Reaches $7.00 After 3.00% Down Move; Westlake Chemical Partners LP (WLKP) Sentiment Is 1.44

January 14, 2018 - By Nellie Frank

Westlake Chemical Partners LP operates, acquires, and develops ethylene production facilities and related assets in the United States. The company has market cap of $804.26 million. The firm operates ethylene production facilities, which primarily convert ethane into ethylene. It has a 15.8 P/E ratio. It also sells ethylene co-products, including propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on a spot or contract basis.

The stock of CSI Compressco LP (NASDAQ:CCLP) is a huge mover today! The stock decreased 4.11% or $0.3 during the last trading session, reaching $7. About 280,872 shares traded or 92.63% up from the average. CSI Compressco LP (NASDAQ:CCLP) has declined 29.05% since January 14, 2017 and is downtrending. It has underperformed by 45.75% the S&P500.The move comes after 9 months negative chart setup for the $263.33M company. It was reported on Jan, 14 by Barchart.com. We have $6.79 PT which if reached, will make NASDAQ:CCLP worth $7.90M less.

Among 5 analysts covering CSI Compressco LP (NASDAQ:CCLP), 1 have Buy rating, 1 Sell and 3 Hold. Therefore 20% are positive. CSI Compressco LP had 19 analyst reports since July 29, 2015 according to SRatingsIntel. RBC Capital Markets maintained CSI Compressco LP (NASDAQ:CCLP) rating on Sunday, August 20. RBC Capital Markets has “Hold” rating and $8.0 target. On Monday, September 25 the stock rating was maintained by RBC Capital Markets with “Hold”. As per Thursday, September 28, the company rating was maintained by Stifel Nicolaus. The company was maintained on Friday, August 7 by RBC Capital Markets. Raymond James downgraded the stock to “Outperform” rating in Monday, October 5 report. The firm has “Hold” rating given on Sunday, October 29 by RBC Capital Markets. Janney Capital upgraded the stock to “Buy” rating in Friday, September 23 report. The stock of CSI Compressco LP (NASDAQ:CCLP) earned “Hold” rating by Stifel Nicolaus on Friday, November 3. The firm has “Hold” rating given on Thursday, August 24 by Stifel Nicolaus. The rating was initiated by Wells Fargo with “Market Perform” on Wednesday, September 2.

CSI Compressco LP provides compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage applications in the United States and internationally. The company has market cap of $263.33 million. It fabricates and sells standard and custom-designed compressor packages, oilfield fluid pump systems, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration services. It currently has negative earnings. The firm offers GasJack and VJack electric powered low-horsepower compressor packages to provide production enhancement services.

Analysts await CSI Compressco LP (NASDAQ:CCLP) to report earnings on February, 27. They expect $-0.23 earnings per share, up 36.11% or $0.13 from last year’s $-0.36 per share. After $-0.26 actual earnings per share reported by CSI Compressco LP for the previous quarter, Wall Street now forecasts -11.54% EPS growth.

Robotti Robert holds 6.13% of its portfolio in Westlake Chemical Partners LP for 268,903 shares. Marvin & Palmer Associates Inc owns 29,185 shares or 2.98% of their US portfolio. Moreover, Price Michael F has 2.59% invested in the company for 225,000 shares. The Illinois-based Anchor Bolt Capital Lp has invested 2.33% in the stock. Sprott Inc., a Ontario – Canada-based fund reported 100,500 shares.

Ratings analysis reveals 100% of Westlake Chemical Partners’s analysts are positive. Out of 2 Wall Street analysts rating Westlake Chemical Partners, 2 give it “Buy”, 0 “Sell” rating, while 0 recommend “Hold”. The lowest target is $28.0 while the high is $30.0. The stock’s average target of $30 is 20.24% above today’s ($24.95) share price. WLKP was included in 3 notes of analysts from September 9, 2016. The firm earned “Outperform” rating on Friday, September 9 by FBR Capital. FBR Capital maintained the shares of WLKP in report on Wednesday, April 12 with “Outperform” rating. The firm has “Buy” rating by Tudor Pickering given on Friday, January 20.

The stock increased 1.01% or $0.25 during the last trading session, reaching $24.95. About 35,075 shares traded. Westlake Chemical Partners LP (WLKP) has risen 21.83% since January 14, 2017 and is uptrending. It has outperformed by 5.13% the S&P500.

Analysts await Westlake Chemical Partners LP (NYSE:WLKP) to report earnings on February, 20. They expect $0.43 earnings per share, up 10.26% or $0.04 from last year’s $0.39 per share. WLKP’s profit will be $13.86M for 14.51 P/E if the $0.43 EPS becomes a reality. After $0.47 actual earnings per share reported by Westlake Chemical Partners LP for the previous quarter, Wall Street now forecasts -8.51% negative EPS growth.

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