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

Equities researchers at StockNews.com started coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a note issued to investors on Tuesday. The firm set a “hold” rating on the oil and gas company’s stock.

Several other research analysts have also weighed in on CLMT. The Goldman Sachs Group lowered their price target on Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a research report on Monday, April 22nd.

Calumet Specialty Products Partners Price Performance

Shares of CLMT stock opened at $15.66 on Tuesday. Calumet Specialty Products Partners has a 12 month low of $11.91 and a 12 month high of $19.91. The company’s fifty day simple moving average is $15.23 and its 200-day simple moving average is $15.88. The firm has a market cap of $1.26 billion, a PE ratio of 19.77 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) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.40). The business had revenue of $976.50 million for the quarter, compared to analysts’ expectations of $856.71 million. Calumet Specialty Products Partners’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) earnings per share. On average, equities analysts predict that Calumet Specialty Products Partners will post -0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. ICA Group Wealth Management LLC acquired a new stake in Calumet Specialty Products Partners during the 4th quarter valued at $116,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Calumet Specialty Products Partners during the 1st quarter worth about $119,000. PFG Investments LLC bought a new stake in shares of Calumet Specialty Products Partners during the 1st quarter worth about $155,000. Sapient Capital LLC acquired a new position in Calumet Specialty Products Partners in the 4th quarter valued at about $188,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. bought a new position in Calumet Specialty Products Partners in the 1st quarter valued at about $171,000. 34.41% of the stock is owned by institutional investors and hedge funds.

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.