Calumet Specialty Products Partners (NASDAQ:CLMT) Earns Hold Rating from Analysts at StockNews.com

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

CLMT has been the subject of several other research reports. The Goldman Sachs Group decreased their price target on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a buy rating for the company in a research note on Monday, August 5th. HC Wainwright reissued a buy rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, October 7th. Finally, TD Cowen lowered their target price on 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 issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $19.33.

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Calumet Specialty Products Partners stock traded up $0.50 during mid-day trading on Tuesday, reaching $21.88. 921,772 shares of the company's stock were exchanged, compared to its average volume of 341,277. The business's fifty day simple moving average is $17.57 and its 200 day simple moving average is $16.19. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $21.99. The firm has a market capitalization of $1.76 billion, a PE ratio of -312.57 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last released its earnings results on Friday, August 9th. The oil and gas company reported ($0.48) EPS for the quarter, topping analysts' consensus estimates of ($0.55) by $0.07. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $889.17 million. The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. On average, sell-side analysts forecast that Calumet Specialty Products Partners will post -1.97 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ICA Group Wealth Management LLC purchased a new position in Calumet Specialty Products Partners during the 4th quarter valued at about $116,000. Future Financial Wealth Managment LLC bought a new stake in Calumet Specialty Products Partners during the 1st quarter worth approximately $119,000. Deuterium Capital Management LLC purchased a new stake in Calumet Specialty Products Partners in the 1st quarter worth approximately $159,000. Wedbush Securities Inc. bought a new position in Calumet Specialty Products Partners in the 2nd quarter valued at $169,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. purchased a new position in shares of Calumet Specialty Products Partners during the 1st quarter valued at $171,000. 34.41% of the stock is currently owned by institutional investors.

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.

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