Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Up 4.7%

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) traded up 4.7% on Monday . The company traded as high as $18.07 and last traded at $17.96. 340,977 shares were traded during trading, an increase of 29% from the average session volume of 263,642 shares. The stock had previously closed at $17.16.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. StockNews.com began coverage on Calumet Specialty Products Partners in a research note on Friday. They set a “hold” rating on the stock. TD Cowen lowered their price target on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, August 12th. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, August 12th. Finally, The Goldman Sachs Group reduced 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 research note on Monday, August 5th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.33.

Calumet Specialty Products Partners Price Performance

The firm has a market capitalization of $1.55 billion, a P/E ratio of -245.14 and a beta of 1.92. The stock’s fifty day simple moving average is $15.69 and its 200 day simple moving average is $15.60.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its earnings results on Friday, August 9th. The oil and gas company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $889.17 million. During the same period in the previous year, the company earned ($0.19) EPS. The company’s revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts forecast that Calumet Specialty Products Partners, L.P. will post -1.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wasserstein Debt Opportunities Management L.P. purchased a new stake in Calumet Specialty Products Partners in the fourth quarter valued at about $119,698,000. Grizzlyrock Capital LLC purchased a new position in shares of Calumet Specialty Products Partners in the 4th quarter valued at approximately $8,909,000. Corient Private Wealth LLC acquired a new stake in Calumet Specialty Products Partners in the 4th quarter worth approximately $8,312,000. Raymond James & Associates grew its position in Calumet Specialty Products Partners by 13.4% during the 2nd quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after purchasing an additional 67,689 shares during the last quarter. Finally, DRW Securities LLC purchased a new position in shares of Calumet Specialty Products Partners in the second quarter worth $898,000. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

Calumet Specialty Products Partners Company Profile

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.