Calumet Specialty Products Partners (NASDAQ:CLMT) Trading 3.5% Higher

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) shares traded up 3.5% during mid-day trading on Friday . The stock traded as high as $19.66 and last traded at $19.64. 48,984 shares traded hands during trading, a decline of 45% from the average session volume of 89,304 shares. The stock had previously closed at $18.97.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CLMT shares. UBS Group raised their target price on shares of Calumet Specialty Products Partners from $18.50 to $19.50 in a report on Monday, May 15th. StockNews.com lowered shares of Calumet Specialty Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, August 7th.

Calumet Specialty Products Partners Trading Up 3.8 %

The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -35.82 and a beta of 2.00. The firm’s 50 day moving average is $16.73 and its two-hundred day moving average is $16.91.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, August 4th. The oil and gas company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.12). Calumet Specialty Products Partners had a negative return on equity of 4.22% and a negative net margin of 1.06%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.09 billion. As a group, equities analysts expect that Calumet Specialty Products Partners, L.P. will post 0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its stake in Calumet Specialty Products Partners by 335.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,689 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 1,301 shares in the last quarter. IFP Advisors Inc bought a new stake in shares of Calumet Specialty Products Partners in the 2nd quarter worth approximately $32,000. Worth Asset Management LLC bought a new position in shares of Calumet Specialty Products Partners during the 1st quarter worth approximately $54,000. BNP Paribas Arbitrage SA bought a new position in Calumet Specialty Products Partners in the 2nd quarter valued at $76,000. Finally, Covestor Ltd bought a new position in Calumet Specialty Products Partners in the 1st quarter valued at $77,000. Institutional investors own 19.96% of the company’s stock.

About Calumet Specialty Products Partners

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets slate of specialty branded products to various consumer-facing and industrial markets in North America and internationally. Its Specialty Products and Solutions segment offers various solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products.