Calumet Specialty Products Partners (NASDAQ:CLMT) Now Covered by StockNews.com

by · The Markets Daily

Investment analysts at StockNews.com began coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT – Get Free Report) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the oil and gas company’s stock.

A number of other research analysts have also weighed in on CLMT. HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, August 12th. The Goldman Sachs Group decreased their price objective on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, TD Cowen decreased their price target on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.33.

Check Out Our Latest Stock Analysis on Calumet Specialty Products Partners

Calumet Specialty Products Partners Trading Down 0.2 %

NASDAQ:CLMT opened at $18.00 on Friday. The firm has a fifty day simple moving average of $15.84 and a 200 day simple moving average of $15.69. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $21.19. The stock has a market capitalization of $1.45 billion, a PE ratio of -257.14 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT – Get Free Report) last released its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $889.17 million. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities analysts predict that Calumet Specialty Products Partners will post -1.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Wasserstein Debt Opportunities Management L.P. bought a new position in shares of Calumet Specialty Products Partners in the 4th quarter valued at $119,698,000. Raymond James & Associates grew its position in Calumet Specialty Products Partners by 13.4% in the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock valued at $9,182,000 after acquiring an additional 67,689 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Calumet Specialty Products Partners during the first quarter worth about $493,000. Corient Private Wealth LLC bought a new position in shares of Calumet Specialty Products Partners in the fourth quarter worth about $8,312,000. Finally, ICA Group Wealth Management LLC bought a new position in Calumet Specialty Products Partners in the 4th quarter valued at approximately $116,000. 34.41% of the stock is currently owned by institutional investors and hedge funds.

About Calumet Specialty Products Partners

(Get Free Report)

Calumet, Inc manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Montana/Renewables; and Performance brands segments.

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