Calumet Specialty Products Partners (NASDAQ:CLMT) Now Covered by Analysts at StockNews.com

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

Other equities research analysts have also recently issued reports about the stock. HC Wainwright reiterated a buy rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, August 12th. The Goldman Sachs Group cut their price objective on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a buy rating for the company in a report on Monday, August 5th. Finally, TD Cowen lowered their target price on Calumet Specialty Products Partners from $20.00 to $18.00 and set a buy rating on the stock in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $19.33.

Calumet Specialty Products Partners Trading Up 3.5 %

Shares of Calumet Specialty Products Partners stock opened at $17.16 on Friday. Calumet Specialty Products Partners has a twelve month low of $9.97 and a twelve month high of $21.19. The firm has a market capitalization of $1.47 billion, a PE ratio of -245.14 and a beta of 1.92. The firm’s 50-day moving average price is $15.69 and its 200 day moving average price is $15.60.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $889.17 million. During the same quarter last year, the business earned ($0.19) EPS. The business’s revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts predict that Calumet Specialty Products Partners will post -1.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Several hedge funds have recently made changes to their positions in the company. ICA Group Wealth Management LLC acquired a new position in shares of Calumet Specialty Products Partners in the fourth quarter valued at approximately $116,000. Future Financial Wealth Managment LLC acquired a new stake in Calumet Specialty Products Partners in the first quarter valued at $119,000. Wedbush Securities Inc. purchased a new stake in shares of Calumet Specialty Products Partners during the 2nd quarter worth $169,000. Deuterium Capital Management LLC acquired a new position in shares of Calumet Specialty Products Partners during the 1st quarter worth $159,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. purchased a new position in shares of Calumet Specialty Products Partners in the 1st quarter valued at about $171,000. Hedge funds and other 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.