Calumet Specialty Products Partners (NASDAQ:CLMT) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research report released on Tuesday. The brokerage issued a hold rating on the oil and gas company’s stock.

A number of other research analysts also recently weighed in on CLMT. The Goldman Sachs Group reduced their target price on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a buy rating for the company in a research report on Thursday, March 21st. HC Wainwright reaffirmed a buy rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, May 13th.

Calumet Specialty Products Partners Stock Down 0.9 %

Calumet Specialty Products Partners stock opened at $16.05 on Tuesday. The stock has a market cap of $1.29 billion, a P/E ratio of -229.29 and a beta of 1.88. The company’s 50 day moving average price is $15.96 and its two-hundred day moving average price is $16.01. Calumet Specialty Products Partners has a 52 week low of $11.91 and a 52 week high of $19.91.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings data on Friday, May 10th. The oil and gas company reported ($0.61) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.13. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $984.10 million. On average, equities analysts anticipate that Calumet Specialty Products Partners will post -1.58 EPS for the current year.

Insider Transactions at Calumet Specialty Products Partners

In related news, SVP Gregory J. Morical sold 11,111 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $15.04, for a total transaction of $167,109.44. Following the completion of the transaction, the senior vice president now owns 33,845 shares of the company’s stock, valued at $509,028.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.91% of the company’s stock.

Institutional Investors Weigh In On Calumet Specialty Products Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wasserstein Debt Opportunities Management L.P. purchased a new position in shares of Calumet Specialty Products Partners in the 4th quarter worth about $119,698,000. Raymond James & Associates grew its position in Calumet Specialty Products Partners by 39.5% during the fourth quarter. Raymond James & Associates now owns 454,360 shares of the oil and gas company’s stock valued at $8,119,000 after acquiring an additional 128,693 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Calumet Specialty Products Partners by 46.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 29,131 shares of the oil and gas company’s stock worth $521,000 after acquiring an additional 9,300 shares in the last quarter. Advisor Resource Council purchased a new position in shares of Calumet Specialty Products Partners during the fourth quarter worth approximately $216,000. Finally, Corient Private Wealth LLC bought a new stake in shares of Calumet Specialty Products Partners in the 4th quarter worth approximately $8,312,000. 34.41% of the stock is owned by hedge funds and other institutional investors.

Calumet Specialty Products Partners Company Profile

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.