StockNews.com started coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT – Free Report) in a research note issued to investors on Friday morning. The brokerage issued a hold rating on the oil and gas company’s stock.
Several other research analysts have also recently weighed in on CLMT. The Goldman Sachs Group lowered their price target on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a buy rating on the stock in a research report on Thursday, March 21st. HC Wainwright reissued a buy rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, May 13th.
Check Out Our Latest Stock Report on CLMT
Calumet Specialty Products Partners Stock Up 3.2 %
Calumet Specialty Products Partners (NASDAQ:CLMT – Get Free Report) last posted its earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.40). The firm had revenue of $976.50 million for the quarter, compared to analysts’ expectations of $856.71 million. Calumet Specialty Products Partners’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the business posted ($0.21) earnings per share. On average, equities research analysts predict that Calumet Specialty Products Partners will post -1.31 EPS for the current fiscal year.
Insider Buying and Selling
In other news, SVP Gregory J. Morical sold 11,111 shares of Calumet Specialty Products Partners stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $15.04, for a total transaction of $167,109.44. Following the transaction, the senior vice president now directly owns 33,845 shares in the company, valued at approximately $509,028.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.91% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. ICA Group Wealth Management LLC bought a new position in shares of Calumet Specialty Products Partners during the 4th quarter worth approximately $116,000. Future Financial Wealth Managment LLC acquired a new position in Calumet Specialty Products Partners in the first quarter valued at about $119,000. PFG Investments LLC bought a new position in shares of Calumet Specialty Products Partners in the first quarter valued at approximately $155,000. Deuterium Capital Management LLC acquired a new position in shares of Calumet Specialty Products Partners in the 1st quarter worth approximately $159,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. acquired a new stake in shares of Calumet Specialty Products Partners in the first quarter valued at $171,000. Institutional investors and hedge funds own 34.41% of the company’s stock.
Calumet Specialty Products Partners Company Profile
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.
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