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

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

Separately, HC Wainwright reiterated a buy rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, May 13th.

Calumet Specialty Products Partners Stock Up 3.2 %

Shares of CLMT opened at $11.84 on Friday. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $19.91. The stock has a market cap of $951.82 million, a PE ratio of -169.14 and a beta of 1.93. The firm’s fifty day moving average is $15.25 and its two-hundred day moving average is $15.49.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, May 10th. The oil and gas company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.13. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $984.10 million. As a group, research analysts anticipate that Calumet Specialty Products Partners will post -1.9 earnings per share for the current year.

Insider Activity at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, SVP Gregory J. Morical sold 11,111 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $15.04, for a total transaction of $167,109.44. Following the completion of the transaction, the senior vice president now owns 33,845 shares of the company’s stock, valued at $509,028.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.91% of the stock is owned by insiders.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Several large investors have recently made changes to their positions in the stock. ICA Group Wealth Management LLC acquired a new stake in Calumet Specialty Products Partners in the 4th quarter valued at approximately $116,000. Future Financial Wealth Managment LLC purchased a new position in shares of Calumet Specialty Products Partners during the first quarter worth $119,000. PFG Investments LLC purchased a new position in shares of Calumet Specialty Products Partners during the first quarter worth $155,000. Deuterium Capital Management LLC acquired a new stake in shares of Calumet Specialty Products Partners in the first quarter valued at $159,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. purchased a new stake in shares of Calumet Specialty Products Partners in the 1st quarter valued at $171,000. 34.41% of the stock is currently owned by institutional investors and hedge funds.

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.