Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT – Get Rating) have earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $21.88.

Several equities research analysts have recently commented on the company. StockNews.com assumed coverage on Calumet Specialty Products Partners in a research note on Thursday, May 18th. They issued a “hold” rating for the company. TheStreet raised Calumet Specialty Products Partners from a “d+” rating to a “c-” rating in a research note on Wednesday, March 15th. Finally, UBS Group lifted their target price on Calumet Specialty Products Partners from $18.50 to $19.50 in a research note on Monday, May 15th.

Calumet Specialty Products Partners Price Performance

CLMT stock opened at $16.55 on Friday. The business has a fifty day moving average price of $16.89 and a 200 day moving average price of $16.88. Calumet Specialty Products Partners has a fifty-two week low of $8.40 and a fifty-two week high of $20.50. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -32.45 and a beta of 2.03.

Calumet Specialty Products Partners (NASDAQ:CLMT – Get Rating) last released its quarterly earnings results on Wednesday, March 15th. The oil and gas company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.17). Calumet Specialty Products Partners had a negative net margin of 0.90% and a negative return on equity of 14.95%. The business had revenue of $999.80 million for the quarter, compared to analyst estimates of $984.85 million. On average, equities analysts expect that Calumet Specialty Products Partners will post 1.02 earnings per share for the current fiscal year.

Insider Activity at Calumet Specialty Products Partners

In related news, Director Daniel J. Sajkowski sold 11,142 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $19.52, for a total value of $217,491.84. Following the completion of the sale, the director now owns 156,607 shares in the company, valued at $3,056,968.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Calumet Specialty Products Partners news, EVP Scott Obermeier bought 4,800 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was purchased at an average cost of $16.99 per share, with a total value of $81,552.00. Following the completion of the purchase, the executive vice president now owns 192,599 shares in the company, valued at $3,272,257.01. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel J. Sajkowski sold 11,142 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $19.52, for a total value of $217,491.84. Following the completion of the transaction, the director now directly owns 156,607 shares of the company’s stock, valued at $3,056,968.64. The disclosure for this sale can be found here. 2.91% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLMT. Morgan Stanley boosted its position in shares of Calumet Specialty Products Partners by 64.4% during the fourth quarter. Morgan Stanley now owns 887,601 shares of the oil and gas company’s stock worth $14,983,000 after buying an additional 347,639 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Calumet Specialty Products Partners by 3.0% during the second quarter. Goldman Sachs Group Inc. now owns 315,032 shares of the oil and gas company’s stock worth $3,273,000 after buying an additional 9,267 shares during the period. Raymond James & Associates boosted its position in shares of Calumet Specialty Products Partners by 15.1% during the first quarter. Raymond James & Associates now owns 308,055 shares of the oil and gas company’s stock worth $4,193,000 after buying an additional 40,480 shares during the period. Bienville Capital Management LLC boosted its position in shares of Calumet Specialty Products Partners by 5.6% during the third quarter. Bienville Capital Management LLC now owns 284,602 shares of the oil and gas company’s stock worth $3,646,000 after buying an additional 15,000 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Calumet Specialty Products Partners by 0.6% during the third quarter. Royal Bank of Canada now owns 229,908 shares of the oil and gas company’s stock worth $2,945,000 after buying an additional 1,425 shares during the period. 21.05% of the stock is owned by institutional investors and hedge funds.

Calumet Specialty Products Partners Company Profile

(Get Rating)

Calumet Specialty Products Partners LP engages in the production of specialty hydrocarbon products. It operates through the following segments: Specialty Products, Fuel Products and Corporate. The Specialty Products segment produces lubricating oils, solvents, waxes, synthetic lubricants and other products.