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

Investment analysts at StockNews.com started coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a report issued on Tuesday. The firm set a “hold” rating on the oil and gas company’s stock.

CLMT has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, April 22nd. The Goldman Sachs Group decreased their price objective on Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, March 21st.

Calumet Specialty Products Partners Price Performance

CLMT opened at $16.02 on Tuesday. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 20.28 and a beta of 1.76. The business’s 50-day moving average price is $15.26 and its two-hundred day moving average price is $15.89. Calumet Specialty Products Partners has a 1 year low of $11.91 and a 1 year high of $19.91.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.40). The company had revenue of $976.50 million during the quarter, compared to analyst estimates of $856.71 million. The business’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) earnings per share. Sell-side analysts anticipate that Calumet Specialty Products Partners will post -0.86 earnings per share for the current fiscal year.

Institutional Trading of Calumet Specialty Products Partners

Large investors have recently added to or reduced their stakes in the company. Wasserstein Debt Opportunities Management L.P. acquired a new position in shares of Calumet Specialty Products Partners during the 4th quarter worth about $119,698,000. Grizzlyrock Capital LLC bought a new stake in Calumet Specialty Products Partners in the fourth quarter valued at approximately $8,909,000. Corient Private Wealth LLC acquired a new stake in shares of Calumet Specialty Products Partners in the fourth quarter valued at approximately $8,312,000. Raymond James & Associates boosted its stake in shares of Calumet Specialty Products Partners by 39.5% during the 4th quarter. Raymond James & Associates now owns 454,360 shares of the oil and gas company’s stock worth $8,119,000 after acquiring an additional 128,693 shares during the period. Finally, Barclays PLC increased its holdings in shares of Calumet Specialty Products Partners by 38.1% during the 3rd quarter. Barclays PLC now owns 200,870 shares of the oil and gas company’s stock worth $3,837,000 after acquiring an additional 55,370 shares during the last quarter. Institutional investors and hedge funds 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.