Calumet Specialty Products Partners (NASDAQ:CLMT) Now Covered by StockNews.com

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

Separately, The Goldman Sachs Group reduced their price objective on Calumet Specialty Products Partners from $19.00 to $17.00 and set a buy rating on the stock in a research note on Thursday, March 21st.

Calumet Specialty Products Partners Stock Performance

CLMT opened at $15.12 on Friday. Calumet Specialty Products Partners has a 1 year low of $11.91 and a 1 year high of $19.91. The company’s 50 day simple moving average is $15.48 and its 200 day simple moving average is $16.04. The stock has a market capitalization of $1.21 billion, a PE ratio of 19.14 and a beta of 1.76.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings data on Friday, February 23rd. The oil and gas company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.40). The firm had revenue of $976.50 million during the quarter, compared to analyst estimates of $856.71 million. During the same period last year, the firm posted ($0.21) EPS. The firm’s revenue was down 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Calumet Specialty Products Partners will post -0.52 earnings per share for the current fiscal year.

Institutional Trading of Calumet Specialty Products Partners

Several large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in shares of Calumet Specialty Products Partners by 335.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,689 shares of the oil and gas company’s stock worth $29,000 after buying an additional 1,301 shares during the period. IFP Advisors Inc purchased a new stake in shares of Calumet Specialty Products Partners during the second quarter valued at approximately $32,000. Worth Asset Management LLC acquired a new position in shares of Calumet Specialty Products Partners during the first quarter worth $54,000. BNP Paribas Arbitrage SA purchased a new position in shares of Calumet Specialty Products Partners in the second quarter valued at $76,000. Finally, Covestor Ltd acquired a new stake in Calumet Specialty Products Partners during the 1st quarter valued at $77,000. 34.41% of the stock is currently 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.