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

Equities research analysts at StockNews.com initiated coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a report released on Monday. The firm set a “hold” rating on the oil and gas company’s stock.

Separately, 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.

Calumet Specialty Products Partners Trading Up 5.4 %

Shares of Calumet Specialty Products Partners stock opened at $16.20 on Monday. The company has a 50 day moving average of $15.38 and a 200-day moving average of $15.94. Calumet Specialty Products Partners has a 1-year low of $11.91 and a 1-year high of $19.91. The company has a market cap of $1.30 billion, a PE ratio of 20.51 and a beta of 1.76.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.40). The firm had revenue of $976.50 million for the quarter, compared to the consensus estimate of $856.71 million. During the same period in the previous year, the business posted ($0.21) earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts forecast that Calumet Specialty Products Partners will post -0.52 earnings per share for the current year.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC bought a new position in Calumet Specialty Products Partners in the 4th quarter valued at approximately $116,000. Future Financial Wealth Managment LLC bought a new position in Calumet Specialty Products Partners in the 1st quarter valued at approximately $119,000. PFG Investments LLC bought a new position in Calumet Specialty Products Partners in the 1st quarter valued at approximately $155,000. Sapient Capital LLC bought a new position in Calumet Specialty Products Partners in the 4th quarter valued at approximately $188,000. Finally, Advisor Resource Council bought a new position in Calumet Specialty Products Partners in the 4th quarter valued at approximately $216,000. Institutional investors 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.