Calumet Specialty Products Partners (NASDAQ:CLMT) Receives New Coverage from Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a note issued to investors on Thursday. The firm set a “hold” rating on the oil and gas company’s stock.

CLMT has been the subject of several other research reports. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday, August 12th. TD Cowen decreased their price objective on Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, The Goldman Sachs Group dropped their target price on shares of 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. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.33.

Calumet Specialty Products Partners Trading Up 1.5 %

Shares of Calumet Specialty Products Partners stock opened at $17.75 on Thursday. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $21.19. The company has a market cap of $1.43 billion, a P/E ratio of -253.57 and a beta of 1.93. The company’s fifty day simple moving average is $15.67 and its two-hundred day simple moving average is $15.63.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.07. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $889.17 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. Calumet Specialty Products Partners’s quarterly revenue was up 11.4% compared to the same quarter last year. Analysts predict that Calumet Specialty Products Partners will post -1.92 EPS for the current fiscal year.

Institutional Trading of Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Founders Financial Alliance LLC boosted its holdings in Calumet Specialty Products Partners by 8.4% in the second 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 in the last quarter. Creative Planning boosted its stake in Calumet Specialty Products Partners by 46.4% in the 2nd quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after purchasing an additional 19,800 shares in the last quarter. DRW Securities LLC bought a new position in Calumet Specialty Products Partners in the 2nd quarter worth about $898,000. Wedbush Securities Inc. purchased a new stake in Calumet Specialty Products Partners during the 2nd quarter valued at about $169,000. Finally, Wasserstein Debt Opportunities Management L.P. increased its stake in Calumet Specialty Products Partners by 2.9% during the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock valued at $110,606,000 after purchasing an additional 193,063 shares in the last quarter. 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.