Wedbush Securities Inc. Purchases New Shares in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)

Wedbush Securities Inc. purchased a new stake in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,550 shares of the oil and gas company’s stock, valued at approximately $169,000.

Several other institutional investors have also added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new stake in shares of Calumet Specialty Products Partners during the 4th quarter valued at $116,000. Future Financial Wealth Managment LLC bought a new stake in shares of Calumet Specialty Products Partners during the 1st quarter valued at $119,000. Deuterium Capital Management LLC bought a new stake in shares of Calumet Specialty Products Partners during the 1st quarter valued at $159,000. Mcintyre Freedman & Flynn Investment Advisers Inc. bought a new stake in shares of Calumet Specialty Products Partners during the 1st quarter valued at $171,000. Finally, Sapient Capital LLC lifted its position in shares of 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 valued at $185,000 after acquiring an additional 1,000 shares during the period. 34.41% of the stock is currently owned by institutional investors.

Calumet Specialty Products Partners Stock Up 3.5 %

Shares of CLMT stock opened at $17.16 on Monday. Calumet Specialty Products Partners, L.P. has a twelve month low of $9.97 and a twelve month high of $21.19. The company has a market cap of $1.47 billion, a P/E ratio of -245.14 and a beta of 1.92. The business has a fifty day simple moving average of $15.69 and a 200 day simple moving average of $15.60.

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

Wall Street Analyst Weigh In

CLMT has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their target price on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, August 5th. StockNews.com started coverage on Calumet Specialty Products Partners in a research report on Friday. They set a “hold” rating for the company. TD Cowen dropped their price objective on Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.33.

Calumet Specialty Products Partners 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.