Calumet Specialty Products Partners (NASDAQ:CLMT) Earns Hold Rating from Analysts at StockNews.com

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

A number of other research firms also recently weighed in on CLMT. TD Cowen decreased their price objective on 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. The Goldman Sachs Group cut their target price on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a buy rating for the company in a research note on Monday, August 5th. Finally, HC Wainwright reaffirmed a buy rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Calumet Specialty Products Partners has an average rating of Moderate Buy and an average price target of $19.33.

Calumet Specialty Products Partners Trading Up 1.5 %

CLMT opened at $17.75 on Thursday. The stock has a market cap of $1.43 billion, a PE ratio of -253.57 and a beta of 1.93. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 year high of $21.19. The stock’s 50 day simple moving average is $15.67 and its 200-day simple moving average is $15.62.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data 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 analyst estimates of $889.17 million. During the same quarter in the prior year, the company posted ($0.19) EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities analysts forecast that Calumet Specialty Products Partners will post -1.92 earnings per share for the current fiscal year.

Institutional Trading of Calumet Specialty Products Partners

Several hedge funds have recently modified their holdings of the stock. ICA Group Wealth Management LLC acquired a new position in Calumet Specialty Products Partners during the 4th quarter worth $116,000. Future Financial Wealth Managment LLC bought a new stake in Calumet Specialty Products Partners during the 1st quarter worth about $119,000. Wedbush Securities Inc. acquired a new position in Calumet Specialty Products Partners during the 2nd quarter valued at about $169,000. Deuterium Capital Management LLC acquired a new position in Calumet Specialty Products Partners during the 1st quarter valued at about $159,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. bought a new position in shares of Calumet Specialty Products Partners in the 1st quarter valued at about $171,000. 34.41% of the stock is owned by institutional investors.

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.