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

StockNews.com began coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a report released on Thursday. The brokerage issued a hold rating on the oil and gas company’s stock.

Several other brokerages have also issued reports on CLMT. HC Wainwright reissued a buy rating and issued a $25.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, August 12th. The Goldman Sachs Group decreased their target price 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. Finally, TD Cowen lowered their price target on 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. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $19.33.

Calumet Specialty Products Partners Trading Up 1.5 %

NASDAQ:CLMT opened at $17.75 on Thursday. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $21.19. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -253.57 and a beta of 1.93. The business’s 50-day moving average price is $15.67 and its two-hundred day moving average price is $15.62.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share 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. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.19) earnings per share. Sell-side analysts predict that Calumet Specialty Products Partners will post -1.92 earnings per share for the current year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Institutional investors have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC bought a new position in Calumet Specialty Products Partners during the 4th quarter worth about $116,000. Future Financial Wealth Managment LLC acquired a new position in shares of Calumet Specialty Products Partners during the first quarter worth about $119,000. Deuterium Capital Management LLC bought a new position in shares of Calumet Specialty Products Partners during the first quarter worth about $159,000. Wedbush Securities Inc. acquired a new stake in Calumet Specialty Products Partners in the 2nd quarter valued at approximately $169,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. bought a new stake in Calumet Specialty Products Partners in the 1st quarter valued at approximately $171,000. 34.41% of the stock is owned by institutional investors.

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.