Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Gap Up to $15.03

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $15.03, but opened at $15.98. Calumet Specialty Products Partners shares last traded at $16.23, with a volume of 133,121 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CLMT shares. HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, August 12th. StockNews.com began coverage on Calumet Specialty Products Partners in a report on Thursday, September 5th. They issued a “hold” rating on the stock. The Goldman Sachs Group decreased their target price on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.33.

Calumet Specialty Products Partners Price Performance

The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -229.14 and a beta of 1.92. The stock has a 50-day moving average price of $15.65 and a 200 day moving average price of $15.59.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $889.17 million. Calumet Specialty Products Partners’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.19) EPS. As a group, equities research analysts predict that Calumet Specialty Products Partners, L.P. will post -1.92 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.