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

Analysts at StockNews.com began coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research report issued on Thursday. The firm set a “hold” rating on the oil and gas company’s stock.

A number of other brokerages have also recently weighed in on CLMT. The Goldman Sachs Group dropped their price target on Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of Calumet Specialty Products Partners in a research report on Monday, May 13th.

Calumet Specialty Products Partners Stock Performance

Calumet Specialty Products Partners stock opened at $16.30 on Thursday. Calumet Specialty Products Partners has a one year low of $11.91 and a one year high of $19.91. The business has a fifty day moving average of $16.07 and a two-hundred day moving average of $15.97. The company has a market cap of $1.31 billion, a P/E ratio of -232.86 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its earnings results on Friday, May 10th. The oil and gas company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.13. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $984.10 million. Sell-side analysts predict that Calumet Specialty Products Partners will post -1.84 EPS for the current year.

Insider Activity at Calumet Specialty Products Partners

In related news, SVP Gregory J. Morical sold 11,111 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $15.04, for a total value of $167,109.44. Following the completion of the transaction, the senior vice president now owns 33,845 shares of the company’s stock, valued at approximately $509,028.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.91% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. ICA Group Wealth Management LLC acquired a new position in shares of Calumet Specialty Products Partners during the 4th quarter valued at about $116,000. Future Financial Wealth Managment LLC acquired a new position in shares of Calumet Specialty Products Partners during the 1st quarter valued at about $119,000. PFG Investments LLC acquired a new position in shares of Calumet Specialty Products Partners during the 1st quarter valued at about $155,000. Deuterium Capital Management LLC acquired a new position in shares of Calumet Specialty Products Partners during the 1st quarter valued at about $159,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. purchased a new stake in shares of Calumet Specialty Products Partners during the 1st quarter worth about $171,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

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.