Calumet Specialty Products Partners (NASDAQ:CLMT) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a report released on Wednesday. The firm set a “hold” rating on the oil and gas company’s stock.

A number of other research analysts have also recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, August 12th. The Goldman Sachs Group lowered their target price 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. Finally, TD Cowen cut 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. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.33.

Calumet Specialty Products Partners Price Performance

CLMT opened at $20.18 on Wednesday. The firm has a market cap of $1.62 billion, a P/E ratio of -288.29 and a beta of 1.93. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $21.19. The company has a 50 day simple moving average of $15.39 and a two-hundred day simple moving average of $15.56.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.07. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $889.17 million. During the same quarter in the previous year, the company posted ($0.19) EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Equities analysts anticipate that Calumet Specialty Products Partners will post -1.9 earnings per share for the current year.

Institutional Trading of Calumet Specialty Products Partners

Large investors have recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC purchased a new position in shares of Calumet Specialty Products Partners in the fourth quarter valued at $116,000. Future Financial Wealth Managment LLC purchased a new stake in Calumet Specialty Products Partners during the first quarter valued at $119,000. PFG Investments LLC bought a new position in Calumet Specialty Products Partners during the first quarter valued at $155,000. Sapient Capital LLC purchased a new position in shares of Calumet Specialty Products Partners in the 4th quarter worth $188,000. Finally, Wedbush Securities Inc. bought a new stake in shares of Calumet Specialty Products Partners in the 2nd quarter worth about $169,000. Institutional investors own 34.41% of the company’s stock.

About Calumet Specialty Products Partners

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.