Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Up 4.7%

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) shares shot up 4.7% on Monday . The stock traded as high as $18.07 and last traded at $17.96. 340,977 shares were traded during trading, an increase of 29% from the average session volume of 263,642 shares. The stock had previously closed at $17.16.

Analyst Ratings Changes

Several equities analysts have commented on the stock. The Goldman Sachs Group decreased their target price on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, August 5th. StockNews.com began coverage on shares of Calumet Specialty Products Partners in a research note on Friday, September 13th. They issued a “hold” rating on the stock. HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday, August 12th. Finally, TD Cowen decreased their price target on Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.33.

Calumet Specialty Products Partners Trading Down 0.3 %

The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -260.57 and a beta of 1.92. The stock’s 50-day moving average is $15.77 and its 200-day moving average is $15.64.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced 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 company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $889.17 million. During the same quarter last year, the company posted ($0.19) earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities research analysts anticipate that Calumet Specialty Products Partners, L.P. will post -1.92 EPS for the current fiscal year.

Institutional Trading of Calumet Specialty Products Partners

Hedge funds have recently made changes to their positions in the company. Wasserstein Debt Opportunities Management L.P. acquired a new position in shares of Calumet Specialty Products Partners in the fourth quarter valued at approximately $119,698,000. Raymond James & Associates grew its holdings in Calumet Specialty Products Partners by 13.4% during the 2nd quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after acquiring an additional 67,689 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Calumet Specialty Products Partners in the first quarter worth approximately $493,000. Corient Private Wealth LLC acquired a new position in Calumet Specialty Products Partners in the fourth quarter valued at approximately $8,312,000. Finally, ICA Group Wealth Management LLC acquired a new position in Calumet Specialty Products Partners in the fourth quarter valued at approximately $116,000. 34.41% of the stock is owned by institutional investors and hedge funds.

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.