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 - Free Report) in a research note published on Tuesday morning. The firm issued a hold rating on the oil and gas company's stock.

Other research analysts have also recently issued research reports about the stock. 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 report on Monday, August 5th. HC Wainwright reiterated a buy rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, October 7th. Finally, TD Cowen decreased their price target 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 analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $19.33.

Get Our Latest Stock Analysis on CLMT

Shares of CLMT traded down $0.55 during trading hours on Tuesday, reaching $20.83. 131,617 shares of the stock traded hands, compared to its average volume of 337,306. The company's 50-day moving average price is $17.57 and its two-hundred day moving average price is $16.19. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $21.68. The company has a market cap of $1.67 billion, a P/E ratio of -305.43 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) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $889.17 million. Calumet Specialty Products Partners's revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.19) EPS. On average, research analysts forecast that Calumet Specialty Products Partners will post -1.97 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in CLMT. Wasserstein Debt Opportunities Management L.P. grew its holdings in shares of Calumet Specialty Products Partners by 2.9% during the second quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company's stock worth $110,606,000 after buying an additional 193,063 shares in the last quarter. Raymond James & Associates lifted its position in shares of Calumet Specialty Products Partners by 13.4% during the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company's stock worth $9,182,000 after purchasing an additional 67,689 shares in the last quarter. Creative Planning lifted its position in shares of Calumet Specialty Products Partners by 46.4% during the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company's stock worth $1,002,000 after purchasing an additional 19,800 shares in the last quarter. DRW Securities LLC acquired a new position in shares of Calumet Specialty Products Partners during the second quarter worth $898,000. Finally, FAS Wealth Partners Inc. raised its holdings in Calumet Specialty Products Partners by 4.5% in the second quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company's stock valued at $869,000 after acquiring an additional 2,308 shares in the last quarter. Hedge funds and other institutional investors own 34.41% of the company's stock.

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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