Calumet Specialty Products Partners (NASDAQ:CLMT) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated 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 target price on Calumet Specialty Products Partners from $19.00 to $17.00 and set a buy rating on the stock in a report on Thursday, March 21st.

Calumet Specialty Products Partners Stock Up 2.6 %

CLMT opened at $15.37 on Monday. Calumet Specialty Products Partners has a 52-week low of $11.91 and a 52-week high of $19.91. The company has a 50 day moving average of $15.40 and a two-hundred day moving average of $15.96. The company has a market cap of $1.23 billion, a P/E ratio of 19.45 and a beta of 1.76.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.40). The company had revenue of $976.50 million for the quarter, compared to analysts’ expectations of $856.71 million. During the same period last year, the business posted ($0.21) earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts anticipate that Calumet Specialty Products Partners will post -0.52 earnings per share for the current year.

Institutional Trading of Calumet Specialty Products Partners

Large investors have recently modified their holdings of the business. Wasserstein Debt Opportunities Management L.P. purchased a new position in Calumet Specialty Products Partners in the fourth quarter valued at about $119,698,000. Raymond James & Associates boosted its stake in shares of Calumet Specialty Products Partners by 11.0% during 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 buying an additional 50,008 shares during the last quarter. Grizzlyrock Capital LLC acquired a new stake in shares of Calumet Specialty Products Partners during the fourth quarter worth approximately $8,909,000. Corient Private Wealth LLC bought a new stake in shares of Calumet Specialty Products Partners in the fourth quarter worth $8,312,000. Finally, Barclays PLC raised its holdings in Calumet Specialty Products Partners by 38.1% in the third quarter. Barclays PLC now owns 200,870 shares of the oil and gas company’s stock valued at $3,837,000 after acquiring an additional 55,370 shares in the last quarter. 34.41% of the stock is currently owned by institutional investors and hedge funds.

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.