ValuEngine Upgrades Calumet Specialty Products Partners, L.P (CLMT) to “Hold”

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other equities analysts have also commented on CLMT. BidaskClub upgraded shares of Calumet Specialty Products Partners, L.P from a “hold” rating to a “buy” rating in a report on Saturday, July 21st. Zacks Investment Research upgraded shares of Calumet Specialty Products Partners, L.P from a “hold” rating to a “strong-buy” rating and set a $8.75 price target on the stock in a report on Friday, July 27th.

Shares of NASDAQ:CLMT opened at $4.79 on Friday. The firm has a market cap of $369.30 million, a PE ratio of -8.55 and a beta of 1.35. The company has a current ratio of 1.45, a quick ratio of 0.75 and a debt-to-equity ratio of 29.68. Calumet Specialty Products Partners, L.P has a 52 week low of $4.65 and a 52 week high of $9.95.



Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last issued its quarterly earnings results on Thursday, August 9th. The oil and gas company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $945.50 million for the quarter, compared to analyst estimates of $829.99 million. Calumet Specialty Products Partners, L.P had a negative net margin of 3.94% and a negative return on equity of 45.02%. Equities analysts anticipate that Calumet Specialty Products Partners, L.P will post -0.27 earnings per share for the current year.

In other news, CFO David West Griffin bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were acquired at an average price of $6.70 per share, for a total transaction of $33,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 59,905 shares in the company, valued at $401,363.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders purchased 41,205 shares of company stock worth $269,925. 4.75% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in CLMT. JPMorgan Chase & Co. lifted its holdings in Calumet Specialty Products Partners, L.P by 17.2% in the first quarter. JPMorgan Chase & Co. now owns 82,000 shares of the oil and gas company’s stock valued at $578,000 after buying an additional 12,037 shares during the period. UBS Group AG lifted its holdings in Calumet Specialty Products Partners, L.P by 34.8% in the first quarter. UBS Group AG now owns 211,856 shares of the oil and gas company’s stock valued at $1,494,000 after buying an additional 54,659 shares during the period. Eqis Capital Management Inc. acquired a new position in Calumet Specialty Products Partners, L.P in the second quarter valued at $118,000. Windsor Group LTD lifted its holdings in Calumet Specialty Products Partners, L.P by 2.8% in the second quarter. Windsor Group LTD now owns 450,221 shares of the oil and gas company’s stock valued at $3,354,000 after buying an additional 12,121 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Calumet Specialty Products Partners, L.P by 87.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 43,000 shares of the oil and gas company’s stock valued at $320,000 after buying an additional 20,000 shares during the period. Institutional investors and hedge funds own 13.96% of the company’s stock.

Calumet Specialty Products Partners, L.P Company Profile

Calumet Specialty Products Partners, L.P. produces and sells specialty hydrocarbon products in North America and internationally. It operates in two segments, Specialty Products and Fuel Products. The Specialty Products segment offers various lubricating oils, white mineral oils, solvents, petrolatums, waxes, synthetic lubricants, and other products which are used primarily as raw material components for basic automotive, industrial, and consumer goods.

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