Calumet Specialty Products Partners (NASDAQ:CLMT) Sees Large Volume Increase

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) saw an uptick in trading volume on Friday . 797,880 shares traded hands during mid-day trading, an increase of 231% from the previous session’s volume of 240,925 shares.The stock last traded at $17.87 and had previously closed at $17.48.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CLMT shares. TD Cowen reduced their price objective on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, August 12th. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a report on Thursday. They issued a “hold” rating on the stock. The Goldman Sachs Group decreased their price objective on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, August 5th. Finally, HC Wainwright reissued a “buy” rating and issued 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 issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.33.

Calumet Specialty Products Partners Trading Up 1.5 %

The company’s 50-day moving average is $15.67 and its 200 day moving average is $15.62. The stock has a market capitalization of $1.43 billion, a PE ratio of -253.57 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly 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 company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $889.17 million. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.19) EPS. Sell-side analysts forecast that Calumet Specialty Products Partners, L.P. will post -1.92 EPS for the current fiscal year.

Institutional Trading of Calumet Specialty Products Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLMT. J.W. Cole Advisors Inc. increased its holdings in shares of Calumet Specialty Products Partners by 4.3% in the first quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock valued at $306,000 after purchasing an additional 850 shares during the period. Sapient Capital LLC boosted its position in Calumet Specialty Products Partners by 9.5% in the second quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock valued at $185,000 after buying an additional 1,000 shares during the last quarter. FAS Wealth Partners Inc. boosted its position in Calumet Specialty Products Partners by 4.5% in the second quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock valued at $869,000 after buying an additional 2,308 shares during the last quarter. Founders Financial Alliance LLC increased its holdings in Calumet Specialty Products Partners by 8.4% in the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock worth $777,000 after buying an additional 3,750 shares during the period. Finally, ARS Investment Partners LLC raised its position in Calumet Specialty Products Partners by 16.7% during the 2nd quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock worth $506,000 after buying an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 34.41% of the company’s stock.

Calumet Specialty Products Partners Company 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.