Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Up 3.2%

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)’s share price rose 3.2% during trading on Wednesday . The stock traded as high as $17.93 and last traded at $17.93. Approximately 19,876 shares traded hands during trading, a decline of 92% from the average daily volume of 237,810 shares. The stock had previously closed at $17.38.

Wall Street Analysts Forecast Growth

CLMT has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, August 12th. The Goldman Sachs Group reduced their price objective on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. StockNews.com assumed coverage on Calumet Specialty Products Partners in a report on Thursday. They set a “hold” rating for the company. Finally, TD Cowen decreased their target price on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.33.

Calumet Specialty Products Partners Stock Down 2.9 %

The company has a market cap of $1.41 billion, a P/E ratio of -249.71 and a beta of 1.93. The business has a fifty day moving average of $15.64 and a 200 day moving average of $15.62.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.07. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $889.17 million. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.19) earnings per share. On average, sell-side analysts anticipate that Calumet Specialty Products Partners, L.P. will post -1.92 EPS for the current fiscal year.

Institutional Trading of Calumet Specialty Products Partners

Several large investors have recently bought and sold shares of the company. J.W. Cole Advisors Inc. boosted its position in shares of Calumet Specialty Products Partners by 4.3% during the first quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock valued at $306,000 after purchasing an additional 850 shares in the last quarter. Sapient Capital LLC lifted its position in Calumet Specialty Products Partners by 9.5% during the second quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock valued at $185,000 after buying an additional 1,000 shares during the period. FAS Wealth Partners Inc. boosted its holdings in shares of Calumet Specialty Products Partners by 4.5% during the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock valued at $869,000 after buying an additional 2,308 shares in the last quarter. Founders Financial Alliance LLC boosted its holdings in shares of Calumet Specialty Products Partners by 8.4% during the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock valued at $777,000 after buying an additional 3,750 shares in the last quarter. Finally, ARS Investment Partners LLC grew its position in shares of Calumet Specialty Products Partners by 16.7% in the 2nd quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock worth $506,000 after buying an additional 4,500 shares during the period. 34.41% of the stock is owned by 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.