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 to clients and investors on Thursday. The brokerage set a “hold” rating on the oil and gas company’s stock.

Several other equities analysts also recently commented on CLMT. The Goldman Sachs Group dropped 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. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, August 12th. Finally, TD Cowen reduced their target price on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Calumet Specialty Products Partners presently has an average rating of “Moderate Buy” and an average price target of $19.33.

Calumet Specialty Products Partners Trading Up 3.6 %

Shares of Calumet Specialty Products Partners stock opened at $18.01 on Thursday. The company has a market cap of $1.45 billion, a PE ratio of -257.29 and a beta of 1.93. The company has a 50 day moving average of $15.61 and a 200-day moving average of $15.61. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $21.19.

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

Hedge Funds Weigh In On Calumet Specialty Products Partners

A number of hedge funds have recently made changes to their positions in the stock. Wasserstein Debt Opportunities Management L.P. increased its position in 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 valued at $110,606,000 after purchasing an additional 193,063 shares during the period. Raymond James & Associates raised its stake 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 during the last quarter. Grizzlyrock Capital LLC acquired a new position in Calumet Specialty Products Partners in the fourth quarter valued at $8,909,000. Corient Private Wealth LLC bought a new stake in Calumet Specialty Products Partners during the fourth quarter valued at $8,312,000. Finally, ING Groep NV grew its holdings in Calumet Specialty Products Partners by 31.9% during the 4th quarter. ING Groep NV now owns 95,000 shares of the oil and gas company’s stock worth $1,698,000 after acquiring an additional 23,000 shares during the period. 34.41% of the stock is currently owned by institutional investors.

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.