StockNews.com Begins Coverage on Calumet Specialty Products Partners (NASDAQ:CLMT)

Research analysts at StockNews.com began coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research report issued on Saturday. The brokerage set a “hold” rating on the oil and gas company’s stock.

Several other equities research analysts have also weighed in on the company. The Goldman Sachs Group reduced their target price 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. TD Cowen reduced their price objective on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday, August 12th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Calumet Specialty Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

Calumet Specialty Products Partners Trading Down 0.2 %

CLMT opened at $18.00 on Friday. The stock has a fifty day moving average price of $15.81 and a 200 day moving average price of $15.67. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 year high of $21.19. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -257.14 and a beta of 1.92.

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, beating the consensus estimate of ($0.55) by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $889.17 million. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Calumet Specialty Products Partners will post -1.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

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