Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target Cut to $15.00

Calumet Specialty Products Partners (NASDAQ:CLMT) had its price objective decreased by The Goldman Sachs Group from $17.00 to $15.00 in a research note published on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the oil and gas company’s stock.

A number of other equities analysts also recently issued reports on the company. HC Wainwright reiterated a buy rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a research report on Monday, May 13th. StockNews.com started coverage on Calumet Specialty Products Partners in a research report on Sunday, August 4th. They set a hold rating on the stock.

Calumet Specialty Products Partners Price Performance

CLMT opened at $11.79 on Monday. The stock has a market cap of $947.79 million, a P/E ratio of -168.43 and a beta of 1.93. The firm has a fifty day moving average price of $15.07 and a 200 day moving average price of $15.43. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 year high of $19.91.

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

Insiders Place Their Bets

In other news, SVP Gregory J. Morical sold 11,111 shares of Calumet Specialty Products Partners stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $15.04, for a total value of $167,109.44. Following the sale, the senior vice president now directly owns 33,845 shares of the company’s stock, valued at $509,028.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.91% of the stock is owned by company insiders.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wasserstein Debt Opportunities Management L.P. purchased a new position in shares of Calumet Specialty Products Partners in the fourth quarter worth about $119,698,000. Grizzlyrock Capital LLC acquired a new position in shares of Calumet Specialty Products Partners during the 4th quarter worth approximately $8,909,000. Corient Private Wealth LLC purchased a new stake in shares of Calumet Specialty Products Partners in the fourth quarter valued at approximately $8,312,000. Raymond James & Associates increased its holdings in shares of Calumet Specialty Products Partners by 39.5% in the fourth quarter. Raymond James & Associates now owns 454,360 shares of the oil and gas company’s stock valued at $8,119,000 after purchasing an additional 128,693 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Calumet Specialty Products Partners during the first quarter worth approximately $493,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

Calumet Specialty Products Partners Company Profile

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.