Calumet Specialty Products Partners (NASDAQ:CLMT) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research note published on Tuesday morning. The firm issued a hold rating on the oil and gas company’s stock.

CLMT has been the subject of several other reports. HC Wainwright reaffirmed a buy rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, April 22nd. The Goldman Sachs Group lowered their target price on Calumet Specialty Products Partners from $19.00 to $17.00 and set a buy rating for the company in a research note on Thursday, March 21st.

Calumet Specialty Products Partners Price Performance

NASDAQ CLMT opened at $15.66 on Tuesday. Calumet Specialty Products Partners has a 1 year low of $11.91 and a 1 year high of $19.91. The stock has a market capitalization of $1.26 billion, a PE ratio of 19.82 and a beta of 1.76. The business’s 50-day moving average is $15.26 and its 200 day moving average is $15.89.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings data on Friday, February 23rd. The oil and gas company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.40). The business had revenue of $976.50 million during the quarter, compared to analyst estimates of $856.71 million. During the same period in the prior year, the business posted ($0.21) EPS. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that Calumet Specialty Products Partners will post -0.86 earnings per share for the current year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Hedge funds have recently bought and sold shares of the business. AE Wealth Management LLC purchased a new position in shares of Calumet Specialty Products Partners during the third quarter valued at approximately $279,000. Raymond James & Associates grew its position in Calumet Specialty Products Partners by 8.9% during the 3rd quarter. Raymond James & Associates now owns 325,667 shares of the oil and gas company’s stock valued at $6,220,000 after purchasing an additional 26,585 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Calumet Specialty Products Partners by 34.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 19,831 shares of the oil and gas company’s stock valued at $379,000 after acquiring an additional 5,100 shares in the last quarter. Barclays PLC raised its holdings in Calumet Specialty Products Partners by 38.1% in the 3rd quarter. Barclays PLC now owns 200,870 shares of the oil and gas company’s stock worth $3,837,000 after acquiring an additional 55,370 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its position in Calumet Specialty Products Partners by 2.9% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 36,000 shares of the oil and gas company’s stock valued at $688,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 34.41% of the company’s stock.

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.