Calumet Specialty Products Partners (NASDAQ:CLMT) Earns Hold Rating from Analysts at StockNews.com

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

Several other equities analysts have also weighed in on CLMT. HC Wainwright reiterated a buy rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, August 12th. The Goldman Sachs Group dropped their price target on 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, TD Cowen reduced their price objective on Calumet Specialty Products Partners from $20.00 to $18.00 and set a buy rating for the company 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $19.33.

Calumet Specialty Products Partners Price Performance

NASDAQ CLMT opened at $17.77 on Friday. The stock has a market capitalization of $1.43 billion, a P/E ratio of -253.86 and a beta of 1.92. The business has a 50 day simple moving average of $15.89 and a 200 day simple moving average of $15.72. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $21.19.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) 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 analyst estimates of $889.17 million. During the same period last year, the business earned ($0.19) EPS. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities analysts expect 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 and hedge funds have recently made changes to their positions in the business. ICA Group Wealth Management LLC bought a new stake in Calumet Specialty Products Partners during the 4th quarter worth approximately $116,000. Future Financial Wealth Managment LLC purchased a new stake in Calumet Specialty Products Partners in the 1st quarter valued at $119,000. Deuterium Capital Management LLC bought a new position in Calumet Specialty Products Partners during the 1st quarter valued at $159,000. Wedbush Securities Inc. purchased a new position in Calumet Specialty Products Partners during the 2nd quarter worth $169,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. bought a new stake in shares of Calumet Specialty Products Partners in the 1st quarter worth $171,000. Institutional investors and hedge funds 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.