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

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

A number of other research analysts have also recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a buy rating for the company in a research note on Monday, August 5th. TD Cowen lowered their price target on 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. Finally, HC Wainwright reissued a buy rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $19.33.

Calumet Specialty Products Partners Trading Down 2.9 %

Shares of NASDAQ:CLMT opened at $17.48 on Thursday. The business’s 50 day moving average is $15.64 and its 200-day moving average is $15.62. The firm has a market capitalization of $1.41 billion, a PE ratio of -249.71 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.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $889.17 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts predict that Calumet Specialty Products Partners will post -1.92 EPS for the current year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of CLMT. Jump Financial LLC acquired a new position in Calumet Specialty Products Partners in the fourth quarter worth $250,000. Independent Advisor Alliance lifted its position in Calumet Specialty Products Partners by 11.4% during the 4th quarter. Independent Advisor Alliance now owns 50,412 shares of the oil and gas company’s stock worth $901,000 after buying an additional 5,150 shares in the last quarter. Brown Advisory Inc. grew its holdings in Calumet Specialty Products Partners by 6.2% during the 4th quarter. Brown Advisory Inc. now owns 85,613 shares of the oil and gas company’s stock worth $1,530,000 after acquiring an additional 5,000 shares during the last quarter. ING Groep NV increased its position in Calumet Specialty Products Partners by 31.9% in the 4th quarter. ING Groep NV now owns 95,000 shares of the oil and gas company’s stock valued at $1,698,000 after acquiring an additional 23,000 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new position in shares of Calumet Specialty Products Partners in the fourth quarter worth about $8,312,000. 34.41% of the stock is owned by institutional investors and hedge funds.

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.