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

Research analysts at StockNews.com assumed coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research report issued on Wednesday. The brokerage set a “sell” rating on the oil and gas company’s stock.

CLMT has been the topic of a number of other research reports. Wells Fargo & Company lifted their price objective on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Monday. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of Calumet Specialty Products Partners in a research note on Thursday, October 17th. TD Cowen increased their price objective on Calumet Specialty Products Partners from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group decreased their target price on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Calumet Specialty Products Partners has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Calumet Specialty Products Partners Trading Up 0.2 %

NASDAQ:CLMT opened at $21.20 on Wednesday. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $25.29. The stock’s 50 day simple moving average is $18.45 and its 200-day simple moving average is $16.41. The firm has a market cap of $1.70 billion, a P/E ratio of -302.86 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced 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 firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $889.17 million. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) earnings per share. Research analysts forecast that Calumet Specialty Products Partners will post -1.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates increased its position in Calumet Specialty Products Partners by 13.4% during the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after buying an additional 67,689 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Calumet Specialty Products Partners in the 1st quarter valued at about $493,000. Wasserstein Debt Opportunities Management L.P. boosted its stake in shares of Calumet Specialty Products Partners by 2.9% during 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 purchasing an additional 193,063 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Calumet Specialty Products Partners by 4.3% during the first quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock worth $306,000 after buying an additional 850 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Calumet Specialty Products Partners during the first quarter worth about $119,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

About Calumet Specialty Products Partners

Calumet, Inc 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; Montana/Renewables; and Performance brands segments.