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

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) saw strong trading volume on Tuesday . 503,254 shares traded hands during mid-day trading, an increase of 87% from the previous session’s volume of 269,622 shares.The stock last traded at $18.15 and had previously closed at $17.96.

Analyst Upgrades and Downgrades

CLMT has been the topic of several recent research reports. The Goldman Sachs Group cut their price objective on shares of 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. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, August 12th. StockNews.com began coverage on shares of Calumet Specialty Products Partners in a report on Friday, September 13th. They issued a “hold” rating for the company. Finally, TD Cowen cut their target price on Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating on the stock 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

Calumet Specialty Products Partners Stock Down 1.2 %

The stock’s 50-day moving average price is $15.78 and its 200 day moving average price is $15.66. The company has a market cap of $1.45 billion, a P/E ratio of -265.43 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.07. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $889.17 million. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. Analysts expect that Calumet Specialty Products Partners, L.P. will post -1.92 earnings per share for the current fiscal year.

Institutional Trading of Calumet Specialty Products Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC acquired a new stake in Calumet Specialty Products Partners in the 4th quarter valued at approximately $116,000. Future Financial Wealth Managment LLC acquired a new stake in Calumet Specialty Products Partners in the 1st quarter valued at approximately $119,000. Wedbush Securities Inc. acquired a new stake in Calumet Specialty Products Partners in the 2nd quarter valued at approximately $169,000. Deuterium Capital Management LLC acquired a new stake in Calumet Specialty Products Partners in the 1st quarter valued at approximately $159,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. acquired a new stake in Calumet Specialty Products Partners in the 1st quarter valued at approximately $171,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

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.