Calumet Specialty Products Partners (NASDAQ:CLMT) Coverage Initiated by Analysts at StockNews.com

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

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group cut 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 research report on Monday, August 5th. HC Wainwright reiterated a buy rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, October 7th. Finally, TD Cowen decreased their price objective on Calumet Specialty Products Partners from $20.00 to $18.00 and set a buy rating for the company in a report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $19.33.

Calumet Specialty Products Partners Stock Performance

Shares of CLMT opened at $21.88 on Tuesday. Calumet Specialty Products Partners has a 52 week low of $9.97 and a 52 week high of $21.99. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -312.57 and a beta of 1.92. The stock has a fifty day moving average of $17.77 and a 200-day moving average of $16.24.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its earnings results 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 firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $889.17 million. Calumet Specialty Products Partners’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.19) earnings per share. As a group, equities analysts forecast that Calumet Specialty Products Partners will post -1.97 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CLMT. Wasserstein Debt Opportunities Management L.P. increased its position in shares of Calumet Specialty Products Partners by 2.9% during the second quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock worth $110,606,000 after buying an additional 193,063 shares during the period. Raymond James & Associates grew its holdings in Calumet Specialty Products Partners by 13.4% during the 2nd quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after acquiring an additional 67,689 shares during the period. Creative Planning raised its position in shares of Calumet Specialty Products Partners by 46.4% in the 2nd quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after acquiring an additional 19,800 shares in the last quarter. DRW Securities LLC acquired a new position in shares of Calumet Specialty Products Partners in the 2nd quarter valued at about $898,000. Finally, FAS Wealth Partners Inc. boosted its position in shares of Calumet Specialty Products Partners by 4.5% during the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock valued at $869,000 after purchasing an additional 2,308 shares in the last quarter. Institutional investors own 34.41% of the company’s stock.

About Calumet Specialty Products Partners

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.