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

StockNews.com initiated coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research note issued to investors on Tuesday morning. The firm issued a hold rating on the oil and gas company’s stock.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group cut their price target on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a buy rating for the company in a report on Thursday, March 21st. HC Wainwright reissued a buy rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, May 13th.

Calumet Specialty Products Partners Price Performance

Shares of CLMT opened at $16.20 on Tuesday. Calumet Specialty Products Partners has a 1-year low of $11.91 and a 1-year high of $19.91. The stock has a market cap of $1.30 billion, a PE ratio of -231.43 and a beta of 1.88. The firm has a fifty day moving average price of $15.94 and a 200 day moving average price of $16.02.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, May 10th. The oil and gas company reported ($0.61) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.13. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $984.10 million. As a group, equities analysts expect that Calumet Specialty Products Partners will post -1.5 EPS for the current fiscal year.

Insider Activity at Calumet Specialty Products Partners

In related news, SVP Gregory J. Morical sold 11,111 shares of the company’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 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.91% of the company’s stock.

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 acquired a new position in shares of Calumet Specialty Products Partners during the 4th quarter valued at $116,000. Future Financial Wealth Managment LLC purchased a new stake in Calumet Specialty Products Partners during the 1st quarter worth $119,000. PFG Investments LLC purchased a new stake in Calumet Specialty Products Partners during the 1st quarter worth $155,000. Deuterium Capital Management LLC purchased a new stake in Calumet Specialty Products Partners during the 1st quarter worth $159,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. purchased a new stake in Calumet Specialty Products Partners during the 1st quarter worth $171,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

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.