Calumet Specialty Products Partners (NASDAQ:CLMT) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a report published on Sunday. The brokerage issued a hold rating on the oil and gas company’s stock.

Separately, HC Wainwright reaffirmed a buy rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, May 13th.

Calumet Specialty Products Partners Stock Up 3.2 %

NASDAQ:CLMT opened at $11.84 on Friday. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $19.91. The firm has a market capitalization of $951.82 million, a P/E ratio of -169.14 and a beta of 1.93. The stock’s fifty day simple moving average is $15.25 and its 200-day simple moving average is $15.49.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its earnings results on Friday, May 10th. The oil and gas company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.13. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $984.10 million. As a group, equities research analysts expect that Calumet Specialty Products Partners will post -1.9 earnings per share for the current year.

Insider Transactions at Calumet Specialty Products Partners

In other news, SVP Gregory J. Morical sold 11,111 shares of the stock in a transaction dated 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 directly owns 33,845 shares in the company, valued at approximately $509,028.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.91% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Institutional investors have recently added to or reduced their stakes in the company. Wasserstein Debt Opportunities Management L.P. bought a new stake in Calumet Specialty Products Partners in the fourth quarter valued at approximately $119,698,000. Raymond James & Associates increased its stake in shares of Calumet Specialty Products Partners by 39.5% during the fourth quarter. Raymond James & Associates now owns 454,360 shares of the oil and gas company’s stock worth $8,119,000 after purchasing an additional 128,693 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Calumet Specialty Products Partners by 46.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 29,131 shares of the oil and gas company’s stock worth $521,000 after purchasing an additional 9,300 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Calumet Specialty Products Partners in the 1st quarter valued at $493,000. Finally, Corient Private Wealth LLC bought a new stake in shares of Calumet Specialty Products Partners in the fourth quarter valued at about $8,312,000. 34.41% of the stock is currently owned by institutional investors and hedge funds.

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.