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

StockNews.com started coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a report issued on Wednesday. The firm set a “hold” rating on the oil and gas company’s stock.

Other research analysts have also issued reports about the stock. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, August 12th. The Goldman Sachs Group lowered 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 report on Monday, August 5th. Finally, 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 research report on Monday, August 12th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.33.

Calumet Specialty Products Partners Stock Performance

Shares of NASDAQ CLMT opened at $20.18 on Wednesday. The stock has a 50 day moving average price of $15.39 and a 200 day moving average price of $15.56. The stock has a market capitalization of $1.62 billion, a PE ratio of -288.29 and a beta of 1.93. 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 released its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.07. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $889.17 million. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) EPS. As a group, research analysts forecast that Calumet Specialty Products Partners will post -1.9 EPS for the current year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Several hedge funds have recently bought and sold shares of CLMT. ICA Group Wealth Management LLC bought a new position in shares of Calumet Specialty Products Partners during the fourth quarter worth approximately $116,000. Future Financial Wealth Managment LLC bought a new position in Calumet Specialty Products Partners during the 1st quarter worth $119,000. PFG Investments LLC acquired a new stake in shares of Calumet Specialty Products Partners during the first quarter worth $155,000. Sapient Capital LLC bought a new stake in shares of Calumet Specialty Products Partners in the fourth quarter valued at about $188,000. Finally, Wedbush Securities Inc. acquired a new position in shares of Calumet Specialty Products Partners in the second quarter valued at about $169,000. 34.41% of the stock is currently owned by institutional investors and hedge funds.

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.