Calumet Specialty Products Partners (NASDAQ:CLMT) Hits New 12-Month High at $20.89

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) shares reached a new 52-week high during trading on Friday . The stock traded as high as $20.89 and last traded at $20.38, with a volume of 75981 shares trading hands. The stock had previously closed at $20.64.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CLMT shares. TD Cowen reduced their price objective on Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. The Goldman Sachs Group reduced their target price on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a report on Tuesday. They issued a “hold” rating on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Calumet Specialty Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

Calumet Specialty Products Partners Price Performance

The stock’s fifty day simple moving average is $15.16 and its 200-day simple moving average is $15.49. The stock has a market cap of $1.61 billion, a P/E ratio of -278.86 and a beta of 1.93.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced 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 company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $889.17 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts forecast that Calumet Specialty Products Partners, L.P. will post -1.9 EPS for the current year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Hedge funds have recently added to or reduced their stakes in the stock. J.W. Cole Advisors Inc. boosted its stake in Calumet Specialty Products Partners by 4.3% during the 1st quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock valued at $306,000 after purchasing an additional 850 shares during the period. Sapient Capital LLC boosted its position in Calumet Specialty Products Partners by 9.5% during the 2nd quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock worth $185,000 after acquiring an additional 1,000 shares during the period. Sheets Smith Wealth Management raised its stake in shares of Calumet Specialty Products Partners by 11.2% during the fourth quarter. Sheets Smith Wealth Management now owns 12,202 shares of the oil and gas company’s stock valued at $218,000 after purchasing an additional 1,225 shares in the last quarter. O Brien Greene & Co. Inc lifted its holdings in Calumet Specialty Products Partners by 4.2% in the fourth quarter. O Brien Greene & Co. Inc now owns 50,000 shares of the oil and gas company’s stock worth $894,000 after purchasing an additional 2,000 shares during the period. Finally, FAS Wealth Partners Inc. grew its position in Calumet Specialty Products Partners by 4.5% in the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock valued at $869,000 after buying an additional 2,308 shares in the last quarter. 34.41% of the stock is currently owned by institutional investors.

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.