Calumet Specialty Products Partners (NASDAQ:CLMT) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a report issued on Tuesday morning. The brokerage issued a hold rating on the oil and gas company’s stock.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group lowered their price target on Calumet Specialty Products Partners from $19.00 to $17.00 and set a buy rating for the company in a report on Thursday, March 21st. HC Wainwright reissued a buy rating and issued a $25.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, April 22nd.

Calumet Specialty Products Partners Stock Performance

NASDAQ CLMT opened at $15.66 on Tuesday. Calumet Specialty Products Partners has a fifty-two week low of $11.91 and a fifty-two week high of $19.91. The firm has a market capitalization of $1.26 billion, a P/E ratio of 19.82 and a beta of 1.76. The stock’s fifty day moving average is $15.26 and its two-hundred day moving average is $15.89.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings data on Friday, February 23rd. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.40). The company had revenue of $976.50 million for the quarter, compared to analysts’ expectations of $856.71 million. The company’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.21) EPS. As a group, sell-side analysts forecast that Calumet Specialty Products Partners will post -0.86 EPS for the current year.

Institutional Trading of Calumet Specialty Products Partners

A number of institutional investors and hedge funds have recently bought and sold shares of CLMT. 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 boosted its position in Calumet Specialty Products Partners by 11.0% in the 1st quarter. Raymond James & Associates now owns 504,368 shares of the oil and gas company’s stock valued at $7,495,000 after buying an additional 50,008 shares during the period. Grizzlyrock Capital LLC purchased a new stake in shares of Calumet Specialty Products Partners during the fourth quarter worth $8,909,000. Corient Private Wealth LLC acquired a new stake in shares of Calumet Specialty Products Partners in the fourth quarter valued at $8,312,000. Finally, Barclays PLC raised its stake in shares of Calumet Specialty Products Partners by 38.1% in the third quarter. Barclays PLC now owns 200,870 shares of the oil and gas company’s stock valued at $3,837,000 after acquiring an additional 55,370 shares in the last quarter. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

About Calumet Specialty Products Partners

Calumet Specialty Products Partners, L.P. 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; Performance brands; Montana/Renewables; and Corporate segments.