Calumet Specialty Products Partners (NASDAQ:CLMT) Sees Large Volume Increase

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) saw unusually-strong trading volume on Tuesday . Approximately 503,254 shares changed hands during trading, an increase of 87% from the previous session’s volume of 269,622 shares.The stock last traded at $18.15 and had previously closed at $17.96.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. TD Cowen dropped 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 note on Monday, August 12th. StockNews.com assumed coverage on shares of Calumet Specialty Products Partners in a research report on Friday. They issued a “hold” rating for the company. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, August 12th. Finally, The Goldman Sachs Group dropped their price objective on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.33.

Calumet Specialty Products Partners Stock Up 1.8 %

The company has a 50-day moving average of $15.72 and a 200-day moving average of $15.62. The company has a market cap of $1.47 billion, a PE ratio of -261.43 and a beta of 1.92.

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

Institutional Trading of Calumet Specialty Products Partners

A number of hedge funds have recently bought and sold shares of the business. ICA Group Wealth Management LLC bought a new position in Calumet Specialty Products Partners during the fourth quarter valued at about $116,000. Future Financial Wealth Managment LLC purchased a new position in Calumet Specialty Products Partners in the first quarter valued at approximately $119,000. Deuterium Capital Management LLC bought a new position in Calumet Specialty Products Partners during the first quarter valued at $159,000. Wedbush Securities Inc. purchased a new stake in Calumet Specialty Products Partners in the second quarter worth $169,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. bought a new stake in shares of Calumet Specialty Products Partners in the first quarter valued at $171,000. 34.41% of the stock is currently owned by institutional investors.

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.