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 issued to investors on Wednesday. The brokerage issued a sell rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group reduced their price objective 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. TD Cowen lifted their target price on Calumet Specialty Products Partners from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Thursday, October 17th. Finally, Wells Fargo & Company lifted their target price on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Calumet Specialty Products Partners currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Calumet Specialty Products Partners Price Performance

NASDAQ CLMT opened at $21.07 on Wednesday. The business has a 50 day simple moving average of $18.66 and a 200 day simple moving average of $16.49. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $25.29. The stock has a market capitalization of $1.69 billion, a P/E ratio of -301.00 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) EPS 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 analyst estimates of $889.17 million. During the same period last year, the business posted ($0.19) EPS. The company’s revenue was up 11.4% on a year-over-year basis. Equities analysts expect that Calumet Specialty Products Partners will post -1.97 earnings per share for the current year.

Institutional Trading of Calumet Specialty Products Partners

Several hedge funds have recently made changes to their positions in CLMT. Future Financial Wealth Managment LLC bought a new stake in shares of Calumet Specialty Products Partners in the first quarter valued at $119,000. Mcintyre Freedman & Flynn Investment Advisers Inc. bought a new stake in shares of Calumet Specialty Products Partners in the first quarter valued at $171,000. J.W. Cole Advisors Inc. raised its stake in shares of 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 valued at $306,000 after buying an additional 850 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Calumet Specialty Products Partners in the first quarter valued at $493,000. Finally, Deuterium Capital Management LLC bought a new stake in shares of Calumet Specialty Products Partners in the first quarter valued at $159,000. 34.41% of the stock is currently owned by 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.