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

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

CLMT has been the subject of a number of other research reports. TD Cowen cut 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 report on Monday, August 12th. The Goldman Sachs Group dropped their price target on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a buy rating for the company in a research report on Monday, August 5th. Finally, HC Wainwright reissued a buy rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Calumet Specialty Products Partners presently has an average rating of Moderate Buy and a consensus target price of $19.33.

Calumet Specialty Products Partners Trading Up 1.1 %

Calumet Specialty Products Partners stock opened at $17.66 on Friday. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -252.29 and a beta of 1.92. The stock’s 50 day moving average is $16.21 and its 200-day moving average is $15.83. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $21.19.

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, beating analysts’ consensus estimates of ($0.55) by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $889.17 million. During the same period in the prior year, the company earned ($0.19) earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts predict that Calumet Specialty Products Partners will post -1.94 earnings per share for the current fiscal year.

Institutional Trading of Calumet Specialty Products Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wasserstein Debt Opportunities Management L.P. bought a new stake in Calumet Specialty Products Partners during the fourth quarter worth $119,698,000. Grizzlyrock Capital LLC acquired a new stake in Calumet Specialty Products Partners in the fourth quarter valued at about $8,909,000. Raymond James & Associates boosted its stake in Calumet Specialty Products Partners by 13.4% in the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock valued at $9,182,000 after buying an additional 67,689 shares in the last quarter. DRW Securities LLC bought a new position in Calumet Specialty Products Partners in the second quarter valued at about $898,000. Finally, GSA Capital Partners LLP acquired a new position in Calumet Specialty Products Partners during the first quarter worth about $493,000. Institutional investors 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.