Calumet Specialty Products Partners (NASDAQ:CLMT) Coverage Initiated by Analysts at StockNews.com

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

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group dropped their target price on 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 dropped their price objective on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a buy rating on the stock in a 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 report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Calumet Specialty Products Partners currently has an average rating of Moderate Buy and an average price target of $19.33.

Get Our Latest Analysis on Calumet Specialty Products Partners

Shares of Calumet Specialty Products Partners stock opened at $21.38 on Tuesday. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $21.68. The firm's 50 day simple moving average is $17.57 and its two-hundred day simple moving average is $16.19. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -305.43 and a beta of 1.92.

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

A number of hedge funds have recently added to or reduced their stakes in CLMT. ICA Group Wealth Management LLC acquired a new position in shares of Calumet Specialty Products Partners in the fourth quarter worth about $116,000. Future Financial Wealth Managment LLC purchased a new position in Calumet Specialty Products Partners during the first quarter worth approximately $119,000. Deuterium Capital Management LLC acquired a new stake in Calumet Specialty Products Partners in the first quarter valued at approximately $159,000. Wedbush Securities Inc. purchased a new stake in shares of Calumet Specialty Products Partners in the second quarter valued at approximately $169,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. acquired a new position in shares of Calumet Specialty Products Partners during the 1st quarter worth approximately $171,000. 34.41% of the stock is owned by hedge funds and other 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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