Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Rating Reiterated by Cowen and Company

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)‘s stock had its “hold” rating reaffirmed by research analysts at Cowen and Company in a report issued on Tuesday, October 17th. They currently have a $5.00 price objective on the oil and gas company’s stock. Cowen and Company’s price objective would indicate a potential downside of 48.98% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised Calumet Specialty Products Partners, L.P. from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Friday, August 18th. Janney Montgomery Scott raised Calumet Specialty Products Partners, L.P. from a “neutral” rating to a “buy” rating and increased their price objective for the company from $6.00 to $8.50 in a report on Monday, August 14th. BidaskClub raised Calumet Specialty Products Partners, L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 24th. ValuEngine raised Calumet Specialty Products Partners, L.P. from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, Wells Fargo & Company raised their price target on Calumet Specialty Products Partners, L.P. from $7.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, September 29th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Calumet Specialty Products Partners, L.P. presently has a consensus rating of “Hold” and an average price target of $6.00.

Shares of Calumet Specialty Products Partners, L.P. (CLMT) traded up $0.35 during trading hours on Tuesday, reaching $9.80. The company’s stock had a trading volume of 798,058 shares, compared to its average volume of 359,408. Calumet Specialty Products Partners, L.P. has a 12-month low of $3.15 and a 12-month high of $9.55. The company has a debt-to-equity ratio of 9.55, a current ratio of 1.36 and a quick ratio of 0.59.

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) last posted its earnings results on Friday, August 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.58. Calumet Specialty Products Partners, L.P. had a negative return on equity of 48.17% and a negative net margin of 2.81%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $841.00 million. sell-side analysts expect that Calumet Specialty Products Partners, L.P. will post -0.25 EPS for the current year.

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Institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its stake in shares of Calumet Specialty Products Partners, L.P. by 2.5% during the first quarter. Wells Fargo & Company MN now owns 461,750 shares of the oil and gas company’s stock valued at $1,754,000 after purchasing an additional 11,265 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Calumet Specialty Products Partners, L.P. by 5.0% in the first quarter. Fifth Third Bancorp now owns 31,800 shares of the oil and gas company’s stock worth $121,000 after acquiring an additional 1,500 shares during the period. Morgan Stanley lifted its stake in shares of Calumet Specialty Products Partners, L.P. by 13.5% in the first quarter. Morgan Stanley now owns 704,438 shares of the oil and gas company’s stock worth $2,677,000 after acquiring an additional 83,995 shares during the period. Adams Asset Advisors LLC lifted its stake in shares of Calumet Specialty Products Partners, L.P. by 11.9% in the second quarter. Adams Asset Advisors LLC now owns 705,332 shares of the oil and gas company’s stock worth $2,998,000 after acquiring an additional 74,732 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Calumet Specialty Products Partners, L.P. by 350.0% in the second quarter. JPMorgan Chase & Co. now owns 36,000 shares of the oil and gas company’s stock worth $154,000 after purchasing an additional 28,000 shares in the last quarter. Hedge funds and other institutional investors own 10.09% of the company’s stock.

Calumet Specialty Products Partners, L.P. Company Profile

Calumet Specialty Products Partners, L.P. is a producer of specialty hydrocarbon products in North America. The Company operates through three segments: specialty products, fuel products and oilfield services. In its specialty products segment, the Company processes crude oil and other feedstocks into a range of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes.

Analyst Recommendations for Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)

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