Calumet Specialty Products Partners (NASDAQ:CLMT) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research report sent to investors on Monday. The brokerage issued a hold rating on the oil and gas company’s stock.

CLMT has been the subject of a number of other reports. 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 for the company in a research note on Monday, August 5th. HC Wainwright reiterated a buy rating and issued a $25.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, May 13th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Calumet Specialty Products Partners has a consensus rating of Moderate Buy and an average price target of $19.33.

Calumet Specialty Products Partners Price Performance

NASDAQ:CLMT opened at $17.29 on Monday. The firm has a market capitalization of $1.39 billion, a PE ratio of -247.00 and a beta of 1.93. The business’s fifty day moving average price is $15.00 and its 200 day moving average price is $15.41. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $19.91.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.07. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $889.17 million. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) EPS. As a group, equities analysts anticipate that Calumet Specialty Products Partners will post -1.9 EPS for the current year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. DRW Securities LLC bought a new position in shares of Calumet Specialty Products Partners in the second quarter valued at approximately $898,000. Wedbush Securities Inc. purchased a new stake in Calumet Specialty Products Partners in the 2nd quarter worth approximately $169,000. Wasserstein Debt Opportunities Management L.P. lifted its position in Calumet Specialty Products Partners by 2.9% in the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock worth $110,606,000 after buying an additional 193,063 shares in the last quarter. FAS Wealth Partners Inc. increased its stake in shares of Calumet Specialty Products Partners by 4.5% during the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock worth $869,000 after purchasing an additional 2,308 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of Calumet Specialty Products Partners by 13.4% during the 2nd quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after purchasing an additional 67,689 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.