Calumet Specialty Products Partners (NASDAQ:CLMT) Earns Hold Rating from Analysts at StockNews.com

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

Separately, The Goldman Sachs Group lowered their target price on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a buy rating on the stock in a report on Thursday, March 21st.

Calumet Specialty Products Partners Trading Down 0.1 %

NASDAQ:CLMT opened at $14.98 on Friday. The firm’s 50 day moving average is $15.51 and its 200 day moving average is $16.05. Calumet Specialty Products Partners has a 12 month low of $11.91 and a 12 month high of $19.91. The stock has a market capitalization of $1.20 billion, a PE ratio of 18.96 and a beta of 1.76.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.40). The business had revenue of $976.50 million for the quarter, compared to analyst estimates of $856.71 million. During the same quarter last year, the firm earned ($0.21) earnings per share. Calumet Specialty Products Partners’s revenue for the quarter was down 2.3% on a year-over-year basis. Research analysts predict that Calumet Specialty Products Partners will post -0.52 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stephen P. Mawer sold 15,037 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $17.87, for a total value of $268,711.19. Following the completion of the transaction, the director now directly owns 172,610 shares in the company, valued at $3,084,540.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.91% of the stock is owned by company insiders.

Institutional Trading of Calumet Specialty Products Partners

Several institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its stake in shares of Calumet Specialty Products Partners by 335.3% during the first quarter. Tower Research Capital LLC TRC now owns 1,689 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 1,301 shares during the last quarter. IFP Advisors Inc bought a new position in shares of Calumet Specialty Products Partners during the second quarter valued at about $32,000. Worth Asset Management LLC bought a new position in shares of Calumet Specialty Products Partners during the first quarter valued at about $54,000. BNP Paribas Arbitrage SA bought a new position in shares of Calumet Specialty Products Partners during the second quarter valued at about $76,000. Finally, Covestor Ltd bought a new position in Calumet Specialty Products Partners in the first quarter worth about $77,000. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

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.