Compressco Partners LP (NASDAQ:GSJK): RBC Capital Raised Their Price Target


Dallas, Texas 11/08/2013 (Financialstrend) – In a research note issued to investors on November 6, 2013, analysts at RBC Capital raised their price target on the shares of the Compressco Partners LP (NASDAQ:GSJK) from $19.00 to $22.00. At present the firm has a rating of sector perform on the stock. This price target points to an upside of 1.76% from the stocks previous close.

Separately, analysts at Zacks, in a research note to investors issued on October 23, 2013, downgraded the shares of the company from a ‘neutral’ rating to an ‘underperform’ rating, currently they have a price target of $21.4 on the stock.

On November 7, 2013, the stock of the company traded flat to close at $21.62, without any change from its previous close. The company has a 52 week low of $15.07 and a 52 week high of $25.72. The 50 and 200 day moving average of the stock is $21.39 and $$20.58, respectively. The market cap of the company is $336.3 million

Recently, the company also announced a quarterly dividend and it is scheduled on November 15, 2013. And accordingly, investors on record date of November 1, 2013 are going to be paid a dividend of $0.43 per share. This indicates a $1.72 annualized dividend and also a dividend yield of 7.96%. The date for ex-dividend is October 30, 2013. This is an increase from company’s earlier quarterly dividend of $0.43.

About Compressco Partners LP

The company provides its wellhead compression-based production enhancement services to a base of various natural gas and oil exploration and also production companies operating all over many of the onshore producing regions of the U.S. as well as in Mexico and Canada. Its services of production enhancement mainly consist of wellhead compression related to gas metering, separation, vapor recovery services and liquids. It also offers ongoing well monitoring services and also in Mexico, services of automated sand separation in association with its services of primary production enhancement.

It design and manufacture most of the compressor units it use to provide its production enhancement services. Compressco Partners GP, Inc. is the general partner of the Company.