Calumet Specialty Products Partners (NASDAQ:CLMT) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research report sent to investors on Monday morning. The brokerage issued a hold rating on the oil and gas company’s stock.

Separately, The Goldman Sachs Group dropped their price target on Calumet Specialty Products Partners from $19.00 to $17.00 and set a buy rating on the stock in a research note on Thursday, March 21st.

Calumet Specialty Products Partners Stock Performance

Shares of NASDAQ CLMT opened at $15.67 on Monday. Calumet Specialty Products Partners has a fifty-two week low of $11.91 and a fifty-two week high of $19.91. The firm has a market capitalization of $1.26 billion, a PE ratio of 19.84 and a beta of 1.76. The stock’s 50-day simple moving average is $15.34 and its 200-day simple moving average is $15.94.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly 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 analysts’ expectations of $856.71 million. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.21) EPS. On average, sell-side analysts forecast that Calumet Specialty Products Partners will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wasserstein Debt Opportunities Management L.P. purchased a new position in shares of Calumet Specialty Products Partners in the 4th quarter valued at approximately $119,698,000. Raymond James & Associates grew its stake in shares of Calumet Specialty Products Partners by 11.0% in the 1st quarter. Raymond James & Associates now owns 504,368 shares of the oil and gas company’s stock valued at $7,495,000 after purchasing an additional 50,008 shares during the last quarter. Grizzlyrock Capital LLC purchased a new position in shares of Calumet Specialty Products Partners in the 4th quarter valued at approximately $8,909,000. Corient Private Wealth LLC purchased a new position in shares of Calumet Specialty Products Partners in the 4th quarter valued at approximately $8,312,000. Finally, Barclays PLC grew its stake in shares of Calumet Specialty Products Partners by 38.1% in the 3rd quarter. Barclays PLC now owns 200,870 shares of the oil and gas company’s stock valued at $3,837,000 after purchasing an additional 55,370 shares during the last quarter. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

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.