Calumet Specialty Products Partners (NASDAQ:CLMT) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research report released on Tuesday. The brokerage issued a hold rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen decreased their target price 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. The Goldman Sachs Group lowered 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 research note on Monday, August 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, October 7th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Calumet Specialty Products Partners presently has an average rating of “Moderate Buy” and a consensus target price of $22.33.

Calumet Specialty Products Partners Price Performance

Shares of Calumet Specialty Products Partners stock opened at $21.87 on Tuesday. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $25.29. The company’s fifty day simple moving average is $18.19 and its 200-day simple moving average is $16.32. The stock has a market capitalization of $1.76 billion, a PE ratio of -312.43 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released 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 the consensus estimate of $889.17 million. During the same period in the prior year, the firm posted ($0.19) EPS. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, research analysts anticipate that Calumet Specialty Products Partners will post -1.97 EPS for the current year.

Institutional Trading of Calumet Specialty Products Partners

A number of institutional investors and hedge funds have recently bought and sold shares of CLMT. ICA Group Wealth Management LLC purchased a new position in shares of Calumet Specialty Products Partners during the fourth quarter valued at about $116,000. Future Financial Wealth Managment LLC bought a new position in Calumet Specialty Products Partners during the first quarter valued at approximately $119,000. Deuterium Capital Management LLC purchased a new position in Calumet Specialty Products Partners during the 1st quarter valued at approximately $159,000. Wedbush Securities Inc. bought a new stake in Calumet Specialty Products Partners in the 2nd quarter worth approximately $169,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. purchased a new stake in shares of Calumet Specialty Products Partners during the 1st quarter worth approximately $171,000. 34.41% of the stock is currently owned by institutional investors.

About Calumet Specialty Products Partners

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.