StockNews.com Initiates Coverage on Calumet Specialty Products Partners (NASDAQ:CLMT)

Analysts at StockNews.com initiated coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the oil and gas company’s stock.

CLMT has been the topic of a number of other research reports. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, August 12th. The Goldman Sachs Group dropped their price target on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, TD Cowen dropped 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 equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.33.

Calumet Specialty Products Partners Price Performance

Shares of NASDAQ CLMT opened at $18.06 on Wednesday. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -258.00 and a beta of 1.93. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $21.19. The firm’s 50 day simple moving average is $15.47 and its 200-day simple moving average is $15.60.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates 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. Calumet Specialty Products Partners’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.19) EPS. Analysts anticipate that Calumet Specialty Products Partners will post -1.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. lifted its holdings in Calumet Specialty Products Partners by 4.3% in the 1st quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock valued at $306,000 after purchasing an additional 850 shares in the last quarter. Sapient Capital LLC raised its holdings in shares of Calumet Specialty Products Partners by 9.5% during the 2nd quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock worth $185,000 after acquiring an additional 1,000 shares during the period. Sheets Smith Wealth Management raised its holdings in shares of Calumet Specialty Products Partners by 11.2% during the 4th quarter. Sheets Smith Wealth Management now owns 12,202 shares of the oil and gas company’s stock worth $218,000 after acquiring an additional 1,225 shares during the period. FAS Wealth Partners Inc. raised its holdings in shares of Calumet Specialty Products Partners by 4.5% during the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock worth $869,000 after acquiring an additional 2,308 shares during the period. Finally, Founders Financial Alliance LLC raised its holdings in shares of Calumet Specialty Products Partners by 8.4% during the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock worth $777,000 after acquiring an additional 3,750 shares during the period. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Calumet Specialty Products Partners Company Profile

Calumet Specialty Products Partners, L.P. 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; Performance brands; Montana/Renewables; and Corporate segments.