Calumet Specialty Products Partners (NASDAQ:CLMT) Given New $15.00 Price Target at The Goldman Sachs Group

Calumet Specialty Products Partners (NASDAQ:CLMT) had its target price cut by The Goldman Sachs Group from $17.00 to $15.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. StockNews.com assumed coverage on shares of Calumet Specialty Products Partners in a report on Sunday, August 4th. They issued a hold rating for the company. HC Wainwright reiterated a buy rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, May 13th.

Calumet Specialty Products Partners Price Performance

CLMT opened at $11.79 on Monday. The company has a market capitalization of $947.79 million, a PE ratio of -168.43 and a beta of 1.93. The business has a 50-day moving average of $15.07 and a 200-day moving average of $15.43. Calumet Specialty Products Partners has a fifty-two week low of $9.97 and a fifty-two week high of $19.91.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its earnings results on Friday, May 10th. The oil and gas company reported ($0.61) earnings per share (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. On average, equities research analysts expect that Calumet Specialty Products Partners will post -1.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Calumet Specialty Products Partners news, SVP Gregory J. Morical sold 11,111 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $15.04, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.91% of the stock is owned by insiders.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Several large investors have recently made changes to their positions in the business. Wedbush Securities Inc. acquired a new stake in Calumet Specialty Products Partners in the 2nd quarter valued at approximately $169,000. Wasserstein Debt Opportunities Management L.P. boosted its position in shares of Calumet Specialty Products Partners by 2.9% in the second quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock valued at $110,606,000 after acquiring an additional 193,063 shares during the period. FAS Wealth Partners Inc. grew its stake in shares of Calumet Specialty Products Partners by 4.5% in the second quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock worth $869,000 after acquiring an additional 2,308 shares during the last quarter. Raymond James & Associates increased its position in Calumet Specialty Products Partners by 13.4% during the second 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. Finally, ARS Investment Partners LLC raised its stake in Calumet Specialty Products Partners by 16.7% during the 2nd quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock valued at $506,000 after purchasing an additional 4,500 shares during the last quarter. 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.