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

StockNews.com initiated coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research report released on Wednesday. The firm issued a sell rating on the oil and gas company’s stock.

A number of other research firms also recently commented on CLMT. The Goldman Sachs Group reduced their target price on 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. Wells Fargo & Company raised their target price on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, October 21st. TD Cowen raised their target price on Calumet Specialty Products Partners from $22.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Calumet Specialty Products Partners presently has an average rating of “Moderate Buy” and an average target price of $24.00.

Calumet Specialty Products Partners Price Performance

NASDAQ:CLMT opened at $21.18 on Wednesday. The firm’s fifty day moving average price is $18.82 and its 200 day moving average price is $16.56. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $25.29. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -302.57 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released 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 business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $889.17 million. During the same period last year, the business posted ($0.19) EPS. Calumet Specialty Products Partners’s revenue was up 11.4% compared to the same quarter last year. As a group, analysts expect that Calumet Specialty Products Partners will post -1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new position in Calumet Specialty Products Partners in the 1st quarter valued at about $119,000. Deuterium Capital Management LLC acquired a new position in Calumet Specialty Products Partners in the 1st quarter valued at about $159,000. Wedbush Securities Inc. acquired a new position in Calumet Specialty Products Partners in the 2nd quarter valued at about $169,000. Mcintyre Freedman & Flynn Investment Advisers Inc. acquired a new position in Calumet Specialty Products Partners in the 1st quarter valued at about $171,000. Finally, Sapient Capital LLC raised its stake in Calumet Specialty Products Partners by 9.5% in the 2nd quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock valued at $185,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 34.41% of the company’s stock.

Calumet Specialty Products Partners Company Profile

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.