Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) Issues Earnings Results, Beats Expectations By $0.17 EPS

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) posted its quarterly earnings data on Thursday. The oil and gas company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.17, Bloomberg Earnings reports. The firm had revenue of $896.90 million during the quarter, compared to analysts’ expectations of $763.05 million. Calumet Specialty Products Partners, L.P had a return on equity of 91.06% and a net margin of 0.05%.

Calumet Specialty Products Partners, L.P stock traded down $0.22 during midday trading on Friday, reaching $4.48. 128,587 shares of the company were exchanged, compared to its average volume of 228,543. The firm has a market capitalization of $364.10 million, a P/E ratio of 7.46 and a beta of 1.78. The company’s 50-day moving average is $4.44. Calumet Specialty Products Partners, L.P has a 1 year low of $1.99 and a 1 year high of $7.35. The company has a quick ratio of 0.82, a current ratio of 1.33 and a debt-to-equity ratio of 22.97.

Institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp acquired a new stake in Calumet Specialty Products Partners, L.P during the 4th quarter valued at approximately $34,000. Adams Asset Advisors LLC lifted its stake in Calumet Specialty Products Partners, L.P by 11.0% during the 1st quarter. Adams Asset Advisors LLC now owns 3,527,128 shares of the oil and gas company’s stock valued at $12,556,000 after acquiring an additional 349,100 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Calumet Specialty Products Partners, L.P during the 1st quarter valued at approximately $47,000. Wedbush Securities Inc. lifted its stake in Calumet Specialty Products Partners, L.P by 24.8% during the 1st quarter. Wedbush Securities Inc. now owns 43,556 shares of the oil and gas company’s stock valued at $155,000 after acquiring an additional 8,650 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in Calumet Specialty Products Partners, L.P during the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 14.72% of the company’s stock.

CLMT has been the subject of a number of recent research reports. ValuEngine cut Calumet Specialty Products Partners, L.P from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. BidaskClub upgraded Calumet Specialty Products Partners, L.P from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Zacks Investment Research cut Calumet Specialty Products Partners, L.P from a “buy” rating to a “hold” rating in a research report on Friday.

Calumet Specialty Products Partners, L.P Company Profile

Calumet Specialty Products Partners, L.P. produces and sells specialty hydrocarbon products in North America and internationally. It operates in two segments, Specialty Products and Fuel Products. The Specialty Products segment offers various lubricating oils, white mineral oils, solvents, petrolatums, waxes, synthetic lubricants, and other products which are used primarily as raw material components for basic automotive, industrial, and consumer goods.

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Earnings History for Calumet Specialty Products Partners, L.P (NASDAQ:CLMT)

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