Calumet Specialty Products Partners (NASDAQ:CLMT) Hits New 12-Month High – Here’s What Happened

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) shares hit a new 52-week high during trading on Monday . The company traded as high as $21.66 and last traded at $21.52, with a volume of 219319 shares. The stock had previously closed at $20.67.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CLMT. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, October 7th. The Goldman Sachs Group lowered their price target on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. StockNews.com started coverage on Calumet Specialty Products Partners in a report on Tuesday. They set a “hold” rating for the company. Finally, TD Cowen lowered their target price on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.33.

Calumet Specialty Products Partners Trading Up 0.2 %

The stock has a fifty day moving average of $17.77 and a two-hundred day moving average of $16.24. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -313.29 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.07. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $889.17 million. During the same period in the prior year, the firm earned ($0.19) earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities analysts expect that Calumet Specialty Products Partners, L.P. will post -1.97 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Raymond James & Associates lifted its position in Calumet Specialty Products Partners by 13.4% during the 2nd quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock valued at $9,182,000 after purchasing an additional 67,689 shares during the period. GSA Capital Partners LLP bought a new position in Calumet Specialty Products Partners in the first quarter valued at approximately $493,000. Wasserstein Debt Opportunities Management L.P. grew its holdings in Calumet Specialty Products Partners by 2.9% during the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock worth $110,606,000 after acquiring an additional 193,063 shares during the period. ICA Group Wealth Management LLC bought a new stake in shares of Calumet Specialty Products Partners during the 4th quarter valued at $116,000. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of Calumet Specialty Products Partners by 4.3% in the 1st quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock valued at $306,000 after purchasing an additional 850 shares during the period. Institutional investors and hedge funds own 34.41% of the company’s stock.

About Calumet Specialty Products Partners

Calumet, Inc 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; Montana/Renewables; and Performance brands segments.