Creative Planning Boosts Stake in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)

Creative Planning increased its position in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 46.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 62,459 shares of the oil and gas company’s stock after purchasing an additional 19,800 shares during the period. Creative Planning’s holdings in Calumet Specialty Products Partners were worth $1,002,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CLMT. Grizzlyrock Capital LLC purchased a new stake in shares of Calumet Specialty Products Partners in the 4th quarter valued at about $8,909,000. ICA Group Wealth Management LLC purchased a new stake in Calumet Specialty Products Partners during the 4th quarter valued at approximately $116,000. Future Financial Wealth Managment LLC purchased a new stake in Calumet Specialty Products Partners during the 1st quarter valued at approximately $119,000. Mcintyre Freedman & Flynn Investment Advisers Inc. purchased a new stake in Calumet Specialty Products Partners during the 1st quarter valued at approximately $171,000. Finally, J.W. Cole Advisors Inc. raised its stake in Calumet Specialty Products Partners by 4.3% during the 1st quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock valued at $306,000 after acquiring an additional 850 shares during the last quarter. 34.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on CLMT shares. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday. The Goldman Sachs Group reduced their price objective on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, August 5th. TD Cowen dropped their target price on Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, StockNews.com initiated coverage on Calumet Specialty Products Partners in a research report on Monday. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.33.

Calumet Specialty Products Partners Trading Up 0.6 %

NASDAQ CLMT opened at $20.23 on Friday. The business’s 50 day moving average is $17.20 and its two-hundred day moving average is $16.07. Calumet Specialty Products Partners, L.P. has a 12-month low of $9.97 and a 12-month high of $21.19. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -289.00 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its 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 for 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 quarter in the previous year, the firm posted ($0.19) EPS. Equities analysts forecast that Calumet Specialty Products Partners, L.P. will post -1.94 earnings per share for the current fiscal year.

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.