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

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

Several other equities research analysts have also weighed in on CLMT. The Goldman Sachs Group reduced their price objective on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, August 5th. TD Cowen lowered their target price on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of Calumet Specialty Products Partners in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.33.

Calumet Specialty Products Partners Stock Down 8.3 %

NASDAQ CLMT opened at $20.06 on Tuesday. The business has a fifty day moving average of $18.31 and a 200-day moving average of $16.35. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -286.57 and a beta of 1.92. Calumet Specialty Products Partners has a fifty-two week low of $9.97 and a fifty-two week high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued 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 company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $889.17 million. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.19) EPS. As a group, analysts anticipate that Calumet Specialty Products Partners will post -1.97 EPS for the current year.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Wasserstein Debt Opportunities Management L.P. raised its stake in shares of 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 valued at $110,606,000 after acquiring an additional 193,063 shares during the last quarter. Raymond James & Associates lifted its position in shares of Calumet Specialty Products Partners by 13.4% during the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after acquiring an additional 67,689 shares in the last quarter. DRW Securities LLC bought a new position in shares of Calumet Specialty Products Partners in the second quarter worth $898,000. GSA Capital Partners LLP bought a new position in shares of Calumet Specialty Products Partners in the first quarter worth $493,000. Finally, Creative Planning raised its holdings 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 in the last quarter. 34.41% of the stock is currently owned by institutional investors and hedge funds.

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.