Calumet Specialty Products Partners (NASDAQ:CLMT) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research note published on Wednesday. The firm issued a sell rating on the oil and gas company’s stock.

Several other equities analysts have also recently commented on CLMT. Wells Fargo & Company boosted their target price on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday. HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Thursday, October 17th. TD Cowen boosted their target price on Calumet Specialty Products Partners from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group cut their price objective on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, August 5th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Calumet Specialty Products Partners presently has an average rating of “Moderate Buy” and an average target price of $24.00.

Calumet Specialty Products Partners Stock Performance

NASDAQ:CLMT opened at $21.07 on Wednesday. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $25.29. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -301.00 and a beta of 1.92. The business’s fifty day moving average is $18.66 and its 200 day moving average is $16.49.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its earnings results on Friday, August 9th. The oil and gas company reported ($0.48) 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 analysts’ expectations of $889.17 million. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. Calumet Specialty Products Partners’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities analysts predict that Calumet Specialty Products Partners will post -1.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Calumet Specialty Products Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Founders Financial Alliance LLC lifted its stake in shares of Calumet Specialty Products Partners by 8.4% in the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock valued at $777,000 after acquiring an additional 3,750 shares during the last quarter. Creative Planning lifted its stake in shares of Calumet Specialty Products Partners by 46.4% in the 2nd quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock valued at $1,002,000 after acquiring an additional 19,800 shares during the last quarter. DRW Securities LLC bought a new stake in shares of Calumet Specialty Products Partners in the 2nd quarter valued at about $898,000. Wedbush Securities Inc. bought a new stake in shares of Calumet Specialty Products Partners in the 2nd quarter valued at about $169,000. Finally, Wasserstein Debt Opportunities Management L.P. lifted its stake in shares of Calumet Specialty Products Partners by 2.9% in the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock valued at $110,606,000 after acquiring an additional 193,063 shares during the last quarter. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

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.