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

StockNews.com initiated coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a report released on Sunday morning. The firm issued a hold rating on the oil and gas company’s stock.

A number of other research analysts have also issued reports on CLMT. TD Cowen decreased their target price on shares of 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 reaffirmed a buy rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, August 12th. Finally, The Goldman Sachs Group reduced their target price on 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. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Calumet Specialty Products Partners currently has a consensus rating of Moderate Buy and a consensus price target of $19.33.

Calumet Specialty Products Partners Stock Performance

Shares of CLMT stock opened at $17.52 on Friday. Calumet Specialty Products Partners has a 52 week low of $9.97 and a 52 week high of $21.19. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -250.29 and a beta of 1.92. The company has a 50-day simple moving average of $16.05 and a 200 day simple moving average of $15.78.

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 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. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.19) earnings per share. Sell-side analysts forecast that Calumet Specialty Products Partners will post -1.94 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new position in shares of Calumet Specialty Products Partners in the 4th quarter valued at $116,000. Future Financial Wealth Managment LLC bought a new position in shares of Calumet Specialty Products Partners in the first quarter worth about $119,000. Deuterium Capital Management LLC acquired a new stake in shares of Calumet Specialty Products Partners in the 1st quarter valued at approximately $159,000. Wedbush Securities Inc. bought a new stake in shares of Calumet Specialty Products Partners during the 2nd quarter valued at approximately $169,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. acquired a new position in Calumet Specialty Products Partners during the 1st quarter worth approximately $171,000. 34.41% of the stock is currently owned by institutional investors and hedge funds.

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.