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

by · The Markets Daily

StockNews.com started coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT – Free Report) in a research report sent to investors on Sunday morning. The brokerage issued a hold rating on the oil and gas company’s stock.

Several other analysts have also recently commented on CLMT. TD Cowen reduced their target price on Calumet Specialty Products Partners from $20.00 to $18.00 and set a buy rating on the stock in a report on Monday, August 12th. The Goldman Sachs Group reduced their price objective on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a buy rating on the stock in a research note on Monday, August 5th. Finally, HC Wainwright reissued a buy rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday, August 12th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $19.33.

Check Out Our Latest Stock Report on Calumet Specialty Products Partners

Calumet Specialty Products Partners Stock Performance

CLMT stock opened at $17.66 on Friday. The company has a market capitalization of $1.42 billion, a P/E ratio of -252.29 and a beta of 1.92. The company has a fifty day moving average price of $16.21 and a 200-day moving average price of $15.83. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $21.19.

Calumet Specialty Products Partners (NASDAQ:CLMT – Get Free Report) last announced its earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.07. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $889.17 million. During the same period in the prior year, the business earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, sell-side analysts forecast that Calumet Specialty Products Partners will post -1.94 earnings per share for the current fiscal year.

Institutional Trading of Calumet Specialty Products Partners

Large investors have recently modified their holdings of the stock. Founders Financial Alliance LLC lifted its position in shares of Calumet Specialty Products Partners by 8.4% during 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 period. Creative Planning raised its holdings in shares of Calumet Specialty Products Partners by 46.4% during the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock valued at $1,002,000 after purchasing an additional 19,800 shares during the period. DRW Securities LLC bought a new position in shares of Calumet Specialty Products Partners during the 2nd quarter worth about $898,000. Wedbush Securities Inc. acquired 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. increased its position in 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 buying an additional 193,063 shares in the last quarter. Institutional investors and hedge funds own 34.41% of the company’s stock.

About Calumet Specialty Products Partners

(Get Free Report)

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.

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