Calumet Specialty Products Partners (NASDAQ:CLMT) Coverage Initiated at StockNews.com

Analysts at StockNews.com began coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research report issued to clients and investors on Saturday. The brokerage set a “hold” rating on the oil and gas company’s stock.

CLMT has been the topic of several other research reports. The Goldman Sachs Group decreased their price target on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. TD Cowen cut their price objective on Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Calumet Specialty Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $19.33.

Calumet Specialty Products Partners Stock Performance

Shares of CLMT stock opened at $18.00 on Friday. The firm has a fifty day moving average of $15.81 and a 200-day moving average of $15.67. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -257.14 and a beta of 1.92. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $21.19.

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 the consensus estimate of ($0.55) by $0.07. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $889.17 million. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the company earned ($0.19) EPS. On average, sell-side analysts predict that Calumet Specialty Products Partners will post -1.92 earnings per share for the current year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of CLMT. ICA Group Wealth Management LLC bought a new stake in shares of Calumet Specialty Products Partners during the fourth quarter worth $116,000. Future Financial Wealth Managment LLC bought a new stake in Calumet Specialty Products Partners during the 1st quarter worth about $119,000. Deuterium Capital Management LLC bought a new stake in Calumet Specialty Products Partners during the 1st quarter worth about $159,000. Wedbush Securities Inc. acquired a new stake in Calumet Specialty Products Partners in the 2nd quarter valued at about $169,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. bought a new position in shares of Calumet Specialty Products Partners in the first quarter worth about $171,000. 34.41% of the stock is owned by institutional investors and hedge funds.

Calumet Specialty Products Partners Company Profile

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.