Calumet Specialty Products Partners (NASDAQ:CLMT) Coverage Initiated at StockNews.com

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

Separately, HC Wainwright reaffirmed a buy rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, May 13th.

Calumet Specialty Products Partners Trading Down 3.1 %

Shares of CLMT stock traded down $0.37 during mid-day trading on Friday, reaching $11.47. The stock had a trading volume of 715,526 shares, compared to its average volume of 170,442. The business’s fifty day moving average is $15.42 and its 200-day moving average is $15.55. The firm has a market cap of $922.07 million, a price-to-earnings ratio of -169.14 and a beta of 1.93. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $19.91.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its earnings results on Friday, May 10th. The oil and gas company reported ($0.61) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.13. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $984.10 million. On average, analysts forecast that Calumet Specialty Products Partners will post -1.9 earnings per share for the current year.

Insider Buying and Selling at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, SVP Gregory J. Morical sold 11,111 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $15.04, for a total value of $167,109.44. Following the sale, the senior vice president now directly 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 can be accessed through the SEC website. 2.91% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently made changes to their positions in CLMT. ICA Group Wealth Management LLC purchased a new stake in Calumet Specialty Products Partners in the fourth quarter valued at $116,000. Future Financial Wealth Managment LLC purchased a new stake in Calumet Specialty Products Partners during the 1st quarter valued at approximately $119,000. PFG Investments LLC purchased a new stake in Calumet Specialty Products Partners during the 1st quarter valued at approximately $155,000. Sapient Capital LLC acquired a new position in Calumet Specialty Products Partners during the 4th quarter worth approximately $188,000. Finally, Deuterium Capital Management LLC acquired a new stake in shares of Calumet Specialty Products Partners in the 1st quarter worth approximately $159,000. Hedge funds and other institutional investors 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.