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

StockNews.com assumed coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research report sent to investors on Monday morning. The firm issued a hold rating on the oil and gas company’s stock.

Separately, The Goldman Sachs Group decreased their price target on 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.

Calumet Specialty Products Partners Stock Performance

NASDAQ CLMT opened at $15.67 on Monday. The company has a market capitalization of $1.26 billion, a P/E ratio of 19.84 and a beta of 1.76. Calumet Specialty Products Partners has a one year low of $11.91 and a one year high of $19.91. The stock has a 50 day moving average price of $15.34 and a 200-day moving average price of $15.94.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released 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 company had revenue of $976.50 million during the quarter, compared to the consensus estimate of $856.71 million. During the same quarter in the previous year, the firm earned ($0.21) EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities analysts predict that Calumet Specialty Products Partners will post -0.69 EPS for the current fiscal year.

Institutional Trading of Calumet Specialty Products Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates increased its stake in Calumet Specialty Products Partners by 39.5% in the fourth quarter. Raymond James & Associates now owns 454,360 shares of the oil and gas company’s stock worth $8,119,000 after purchasing an additional 128,693 shares during the period. Barclays PLC increased its stake in shares of Calumet Specialty Products Partners by 38.1% during the third 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 during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Calumet Specialty Products Partners by 46.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 29,131 shares of the oil and gas company’s stock valued at $521,000 after acquiring an additional 9,300 shares in the last quarter. Advisor Resource Council bought a new stake in shares of Calumet Specialty Products Partners in the fourth quarter valued at about $216,000. Finally, Atria Wealth Solutions Inc. raised its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.

About Calumet Specialty Products Partners

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.