JPMorgan Chase & Co. Cuts Stock Position in USA Compression Partners LP (NYSE:USAC)

JPMorgan Chase & Co. trimmed its holdings in shares of USA Compression Partners LP (NYSE:USAC) by 45.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,214,578 shares of the oil and gas company’s stock after selling 2,696,284 shares during the quarter. JPMorgan Chase & Co.’s holdings in USA Compression Partners were worth $73,678,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Cambridge Investment Research Advisors Inc. lifted its position in shares of USA Compression Partners by 252.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 44,596 shares of the oil and gas company’s stock worth $1,058,000 after purchasing an additional 31,930 shares during the last quarter. Custom Index Systems LLC bought a new position in USA Compression Partners in the 2nd quarter worth about $1,329,000. Sunbelt Securities Inc. raised its stake in shares of USA Compression Partners by 12.2% during the second quarter. Sunbelt Securities Inc. now owns 4,445 shares of the oil and gas company’s stock valued at $105,000 after acquiring an additional 485 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of USA Compression Partners in the second quarter valued at approximately $204,000. Finally, Objectivity Squared LLC increased its holdings in USA Compression Partners by 2.3% during the 3rd quarter. Objectivity Squared LLC now owns 206,843 shares of the oil and gas company’s stock worth $4,768,000 after purchasing an additional 4,644 shares during the period. 47.77% of the stock is owned by institutional investors.

USA Compression Partners Price Performance

Shares of NYSE:USAC opened at $24.23 on Friday. The business’s 50-day moving average is $23.03 and its 200 day moving average is $22.90. The firm has a market capitalization of $2.84 billion, a P/E ratio of 42.51 and a beta of 1.34. USA Compression Partners LP has a 1 year low of $21.06 and a 1 year high of $28.47.

USA Compression Partners (NYSE:USAC) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). The company had revenue of $239.97 million for the quarter, compared to analyst estimates of $238.37 million. USA Compression Partners had a negative return on equity of 47.53% and a net margin of 9.36%. During the same quarter in the previous year, the firm posted $0.09 earnings per share. On average, analysts expect that USA Compression Partners LP will post 0.8 EPS for the current year.

USA Compression Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 8.67%. The ex-dividend date was Monday, October 21st. USA Compression Partners’s dividend payout ratio is presently 368.42%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Mizuho dropped their price target on USA Compression Partners from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Citigroup began coverage on shares of USA Compression Partners in a research report on Friday, September 27th. They issued a “neutral” rating and a $23.00 price target for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $27.00 price objective on shares of USA Compression Partners in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, USA Compression Partners currently has an average rating of “Hold” and an average target price of $26.00.

About USA Compression Partners

USA Compression Partners, LP provides compression services under term contracts with customers in the natural gas and crude oil industries in the United States. The company engineers, designs, operates, services, and repairs its compression units; and maintains related support inventory and equipment.