OCI Partners LP (OCIP) Lowered to Strong Sell at BidaskClub

BidaskClub cut shares of OCI Partners LP (NYSE:OCIP) from a sell rating to a strong sell rating in a research note issued to investors on Friday.

Several other research firms have also commented on OCIP. ValuEngine raised shares of OCI Partners from a buy rating to a strong-buy rating in a report on Friday, August 11th. Citigroup Inc. set a $7.00 price target on shares of OCI Partners and gave the company a sell rating in a report on Monday, August 14th.

OCI Partners (OCIP) traded down 0.61% during trading on Friday, reaching $8.20. The company had a trading volume of 12,454 shares. OCI Partners has a 52 week low of $4.95 and a 52 week high of $10.35. The firm’s market capitalization is $713.38 million. The stock has a 50 day moving average price of $8.42 and a 200 day moving average price of $8.92.

OCI Partners (NYSE:OCIP) last posted its quarterly earnings results on Monday, August 7th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.14). OCI Partners had a negative net margin of 5.60% and a negative return on equity of 10.52%. The business had revenue of $73.97 million during the quarter. Analysts predict that OCI Partners will post $0.46 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 5.85%. The ex-dividend date of this dividend was Wednesday, August 16th. OCI Partners’s payout ratio is -252.63%.

In other news, insider Nathaniel A. Gregory bought 10,000 shares of the stock in a transaction dated Friday, September 8th. The shares were acquired at an average cost of $8.35 per share, with a total value of $83,500.00. Following the purchase, the insider now directly owns 10,000 shares in the company, valued at approximately $83,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. purchased a new stake in shares of OCI Partners during the 1st quarter worth about $440,000. Quinn Opportunity Partners LLC lifted its stake in OCI Partners by 32.1% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 55,985 shares of the basic materials company’s stock valued at $495,000 after buying an additional 13,600 shares in the last quarter. Renaissance Technologies LLC lifted its stake in OCI Partners by 13.9% in the 1st quarter. Renaissance Technologies LLC now owns 60,608 shares of the basic materials company’s stock valued at $606,000 after buying an additional 7,418 shares in the last quarter. Cowen Group Inc. lifted its stake in OCI Partners by 93.7% in the 1st quarter. Cowen Group Inc. now owns 95,670 shares of the basic materials company’s stock valued at $957,000 after buying an additional 46,275 shares in the last quarter. Finally, Bard Associates Inc. lifted its stake in OCI Partners by 1.0% in the 2nd quarter. Bard Associates Inc. now owns 144,400 shares of the basic materials company’s stock valued at $1,278,000 after buying an additional 1,500 shares in the last quarter. 14.98% of the stock is currently owned by institutional investors and hedge funds.

OCI Partners Company Profile

OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is located on the Texas Gulf Coast near Beaumont. The Company has an annual methanol production capacity of approximately 912,500 metric tons and an annual ammonia production capacity of approximately 331,000 metric tons.

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