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

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

CLMT has been the topic of a number of other reports. The Goldman Sachs Group lowered their price target on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a buy rating on the stock in a report on Thursday, March 21st. HC Wainwright reiterated a buy rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday, April 22nd.

Calumet Specialty Products Partners Price Performance

Shares of CLMT stock opened at $16.11 on Wednesday. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 20.39 and a beta of 1.75. The company’s fifty day simple moving average is $15.19 and its two-hundred day simple moving average is $15.85. Calumet Specialty Products Partners has a 1 year low of $11.91 and a 1 year high of $19.91.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.40). The firm had revenue of $976.50 million during the quarter, compared to the consensus estimate of $856.71 million. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) EPS. Equities research analysts anticipate that Calumet Specialty Products Partners will post -0.86 EPS for the current year.

Institutional Trading of Calumet Specialty Products Partners

A number of large investors have recently modified their holdings of CLMT. Raymond James & Associates lifted its position in Calumet Specialty Products Partners by 39.5% during the fourth quarter. Raymond James & Associates now owns 454,360 shares of the oil and gas company’s stock valued at $8,119,000 after purchasing an additional 128,693 shares during the last quarter. Barclays PLC raised its position in shares of Calumet Specialty Products Partners by 38.1% during the 3rd quarter. Barclays PLC now owns 200,870 shares of the oil and gas company’s stock valued at $3,837,000 after buying an additional 55,370 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Calumet Specialty Products Partners by 46.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 29,131 shares of the oil and gas company’s stock worth $521,000 after acquiring an additional 9,300 shares during the last quarter. Advisor Resource Council purchased a new position in Calumet Specialty Products Partners in the fourth quarter worth $216,000. Finally, Atria Wealth Solutions Inc. increased its stake in Calumet Specialty Products Partners by 2.9% in the third quarter. Atria Wealth Solutions Inc. now owns 36,000 shares of the oil and gas company’s stock valued at $688,000 after acquiring an additional 1,000 shares during the last quarter. 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.