Calumet Specialty Products Partners (NASDAQ:CLMT) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Calumet Specialty Products Partners (NASDAQ:CLMT) from a sell rating to a hold rating in a report published on Friday morning.

Separately, HC Wainwright reissued a buy rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, August 7th.

Calumet Specialty Products Partners Stock Down 0.4 %

Shares of NASDAQ CLMT opened at $19.43 on Friday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -35.33 and a beta of 2.00. Calumet Specialty Products Partners has a twelve month low of $12.50 and a twelve month high of $20.50. The company’s fifty day moving average is $17.16 and its 200-day moving average is $16.89.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings data on Friday, August 4th. The oil and gas company reported ($0.19) earnings per share 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 firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.09 billion. On average, research analysts anticipate that Calumet Specialty Products Partners will post 0.04 EPS for the current fiscal year.

Institutional Trading of Calumet Specialty Products Partners

A number of institutional investors and hedge funds have recently made changes to their positions in CLMT. F M Investments LLC acquired a new position in Calumet Specialty Products Partners during the 2nd quarter worth approximately $9,059,000. Price Jennifer C. bought a new position in Calumet Specialty Products Partners during the second quarter worth $9,059,000. Morgan Stanley lifted its stake in shares of Calumet Specialty Products Partners by 64.4% in the fourth quarter. Morgan Stanley now owns 887,601 shares of the oil and gas company’s stock valued at $14,983,000 after buying an additional 347,639 shares in the last quarter. Barclays PLC lifted its position in shares of Calumet Specialty Products Partners by 272.8% during the second quarter. Barclays PLC now owns 145,500 shares of the oil and gas company’s stock valued at $2,308,000 after purchasing an additional 106,470 shares in the last quarter. Finally, ING Groep NV bought a new position in shares of Calumet Specialty Products Partners during the fourth quarter valued at about $1,215,000. 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.