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

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

Several other equities research analysts have also commented on the stock. The Goldman Sachs Group lowered 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 report on Monday, August 5th. TD Cowen decreased their target price on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a buy rating for the company in a research note on Monday, August 12th. Finally, HC Wainwright reiterated a buy rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $19.33.

Calumet Specialty Products Partners Stock Performance

Shares of Calumet Specialty Products Partners stock opened at $17.16 on Friday. The company has a market capitalization of $1.47 billion, a PE ratio of -245.14 and a beta of 1.92. The company has a 50-day simple moving average of $15.69 and a two-hundred day simple moving average of $15.60. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $21.19.

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, beating the consensus estimate of ($0.55) by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $889.17 million. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.19) EPS. On average, equities analysts predict that Calumet Specialty Products Partners will post -1.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Institutional investors have recently modified their holdings of the company. ICA Group Wealth Management LLC purchased a new position in shares of Calumet Specialty Products Partners in the 4th quarter valued at about $116,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Calumet Specialty Products Partners in the 1st quarter valued at about $119,000. Wedbush Securities Inc. acquired a new stake in shares of Calumet Specialty Products Partners in the second quarter valued at approximately $169,000. Deuterium Capital Management LLC purchased a new stake in Calumet Specialty Products Partners in the 1st quarter valued at $159,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. purchased a new position in Calumet Specialty Products Partners during the 1st quarter worth $171,000. 34.41% of the stock is owned by institutional investors and hedge funds.

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.