StockNews.com Begins Coverage on Calumet Specialty Products Partners (NASDAQ:CLMT)

Research analysts at StockNews.com assumed coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research note issued on Monday. The brokerage set a “hold” rating on the oil and gas company’s stock.

A number of other brokerages also recently weighed in on CLMT. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, August 12th. TD Cowen dropped their price objective on Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, The Goldman Sachs Group dropped their price objective on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

Calumet Specialty Products Partners Trading Down 1.0 %

CLMT opened at $20.26 on Monday. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $21.19. The business’s fifty day simple moving average is $16.91 and its 200-day simple moving average is $16.01. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -289.43 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings data 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 company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $889.17 million. During the same period in the previous year, the business earned ($0.19) EPS. Calumet Specialty Products Partners’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities research analysts predict that Calumet Specialty Products Partners will post -1.94 EPS for the current year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLMT. J.W. Cole Advisors Inc. raised its stake in shares of Calumet Specialty Products Partners by 4.3% in the first quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock worth $306,000 after purchasing an additional 850 shares during the last quarter. Sapient Capital LLC raised its stake in shares of Calumet Specialty Products Partners by 9.5% in the second quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock worth $185,000 after purchasing an additional 1,000 shares during the last quarter. FAS Wealth Partners Inc. raised its stake in shares of Calumet Specialty Products Partners by 4.5% in the second quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock worth $869,000 after purchasing an additional 2,308 shares during the last quarter. Founders Financial Alliance LLC raised its stake in shares of Calumet Specialty Products Partners by 8.4% in the second quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock worth $777,000 after purchasing an additional 3,750 shares during the last quarter. Finally, ARS Investment Partners LLC raised its stake in shares of Calumet Specialty Products Partners by 16.7% in the second quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock worth $506,000 after purchasing an additional 4,500 shares during the last quarter. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

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.