Calumet Specialty Products Partners (NASDAQ:CLMT) Coverage Initiated by Analysts at StockNews.com

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

CLMT has been the topic of a number of other reports. TD Cowen decreased their price objective on Calumet Specialty Products Partners from $20.00 to $18.00 and set a buy rating on the stock in a research report on Monday, August 12th. HC Wainwright restated a buy rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, August 12th. Finally, 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 research report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Calumet Specialty Products Partners currently has a consensus rating of Moderate Buy and a consensus target price of $19.33.

Calumet Specialty Products Partners Price Performance

Shares of CLMT stock opened at $20.10 on Monday. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 year high of $21.19. The stock’s 50 day simple moving average is $17.04 and its two-hundred day simple moving average is $16.04. The company has a market cap of $1.62 billion, a PE ratio of -287.14 and a beta of 1.92.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the company earned ($0.19) earnings per share. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities research analysts expect that Calumet Specialty Products Partners will post -1.94 EPS for the current year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Hedge funds and other institutional investors have recently modified their holdings of the business. Wasserstein Debt Opportunities Management L.P. purchased a new stake in shares of Calumet Specialty Products Partners in the fourth quarter worth approximately $119,698,000. Raymond James & Associates raised its holdings in shares of 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 worth $9,182,000 after buying an additional 67,689 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Calumet Specialty Products Partners in the first quarter worth approximately $493,000. ICA Group Wealth Management LLC bought a new position in Calumet Specialty Products Partners in the fourth quarter worth approximately $116,000. Finally, J.W. Cole Advisors Inc. grew its stake in Calumet Specialty Products Partners by 4.3% in the first quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock worth $306,000 after purchasing an additional 850 shares in the last quarter. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

Calumet Specialty Products Partners Company Profile

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.