Calumet Specialty Products Partners (NASDAQ:CLMT) Trading Up 4.2%

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) rose 4.2% during trading on Thursday . The stock traded as high as $18.66 and last traded at $18.40. Approximately 124,492 shares were traded during trading, a decline of 62% from the average daily volume of 324,624 shares. The stock had previously closed at $17.66.

Wall Street Analysts Forecast Growth

CLMT has been the topic of several analyst reports. The Goldman Sachs Group reduced their price target on 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 report on Sunday. They issued a “hold” rating on the stock. HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, August 12th. Finally, TD Cowen reduced their price objective on shares of 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 equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.33.

Calumet Specialty Products Partners Price Performance

The company has a market capitalization of $1.52 billion, a PE ratio of -268.86 and a beta of 1.92. The company’s 50 day simple moving average is $16.32 and its 200 day simple moving average is $15.84.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $889.17 million. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.19) earnings per share. On average, equities analysts forecast that Calumet Specialty Products Partners, L.P. will post -1.94 EPS for the current year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wasserstein Debt Opportunities Management L.P. acquired a new position in shares of Calumet Specialty Products Partners during the 4th quarter worth $119,698,000. Grizzlyrock Capital LLC purchased a new stake in Calumet Specialty Products Partners during the 4th quarter worth about $8,909,000. Raymond James & Associates increased its position 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 purchasing an additional 67,689 shares in the last quarter. DRW Securities LLC purchased a new stake in Calumet Specialty Products Partners during the 2nd quarter worth about $898,000. Finally, GSA Capital Partners LLP purchased a new stake in Calumet Specialty Products Partners during the 1st quarter worth about $493,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

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.