StockNews.com Begins Coverage on Calumet Specialty Products Partners (NASDAQ:CLMT)

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

A number of other research analysts also recently commented on CLMT. The Goldman Sachs Group cut their target price on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a buy rating on the stock in a research report on Monday, August 5th. TD Cowen cut 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 report on Monday, August 12th. Finally, HC Wainwright reissued a buy rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $19.33.

Calumet Specialty Products Partners Price Performance

Shares of CLMT opened at $17.46 on Friday. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $21.19. The company has a 50-day moving average of $16.21 and a 200 day moving average of $15.83. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -249.43 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.07. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $889.17 million. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.19) EPS. On average, equities analysts anticipate that Calumet Specialty Products Partners will post -1.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. ICA Group Wealth Management LLC purchased a new position in shares of Calumet Specialty Products Partners in the 4th quarter worth approximately $116,000. Future Financial Wealth Managment LLC purchased a new position in shares of Calumet Specialty Products Partners in the 1st quarter worth approximately $119,000. Wedbush Securities Inc. purchased a new position in shares of Calumet Specialty Products Partners in the 2nd quarter worth approximately $169,000. Deuterium Capital Management LLC purchased a new position in shares of Calumet Specialty Products Partners in the 1st quarter worth approximately $159,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. purchased a new position in shares of Calumet Specialty Products Partners in the 1st quarter worth approximately $171,000. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Calumet Specialty Products Partners Company Profile

Calumet, Inc 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; Montana/Renewables; and Performance brands segments.