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

Investment analysts at StockNews.com started coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a report released on Thursday. The brokerage set a “hold” rating on the oil and gas company’s stock.

Other equities research analysts have also issued reports about the company. HC Wainwright reiterated a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, May 13th. The Goldman Sachs Group dropped their price target on Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, March 21st.

Calumet Specialty Products Partners Price Performance

Shares of CLMT stock opened at $17.32 on Thursday. The stock has a 50 day simple moving average of $16.04 and a 200-day simple moving average of $15.97. Calumet Specialty Products Partners has a 1-year low of $11.91 and a 1-year high of $19.91. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -247.43 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings data on Friday, May 10th. The oil and gas company reported ($0.61) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.13. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $984.10 million. Analysts anticipate that Calumet Specialty Products Partners will post -1.84 earnings per share for the current fiscal year.

Insider Activity at Calumet Specialty Products Partners

In other news, SVP Gregory J. Morical sold 11,111 shares of Calumet Specialty Products Partners stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $15.04, for a total transaction of $167,109.44. Following the transaction, the senior vice president now owns 33,845 shares in the company, valued at approximately $509,028.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.91% of the stock is owned by corporate insiders.

Institutional Trading of Calumet Specialty Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wasserstein Debt Opportunities Management L.P. acquired a new stake in shares of Calumet Specialty Products Partners in the fourth quarter valued at $119,698,000. Raymond James & Associates grew its position in Calumet Specialty Products Partners by 11.0% in the 1st quarter. Raymond James & Associates now owns 504,368 shares of the oil and gas company’s stock valued at $7,495,000 after acquiring an additional 50,008 shares in the last quarter. Grizzlyrock Capital LLC purchased a new stake in Calumet Specialty Products Partners during the fourth quarter worth about $8,909,000. Corient Private Wealth LLC acquired a new stake in shares of Calumet Specialty Products Partners during the fourth quarter worth about $8,312,000. Finally, ING Groep NV boosted its stake in shares of Calumet Specialty Products Partners by 31.9% in the fourth quarter. ING Groep NV now owns 95,000 shares of the oil and gas company’s stock valued at $1,698,000 after purchasing an additional 23,000 shares during the period. Hedge funds and other institutional investors own 34.41% of the company’s stock.

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.