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

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

A number of other equities analysts have also commented on CLMT. HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, May 13th. The Goldman Sachs Group lowered their price objective on Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, March 21st.

Calumet Specialty Products Partners Trading Up 0.6 %

Shares of Calumet Specialty Products Partners stock opened at $16.00 on Wednesday. The stock has a 50 day moving average of $15.99 and a 200 day moving average of $15.98. Calumet Specialty Products Partners has a 12 month low of $11.91 and a 12 month high of $19.91. The firm has a market cap of $1.29 billion, a PE ratio of -228.57 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, May 10th. The oil and gas company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.13. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $984.10 million. As a group, equities research analysts forecast that Calumet Specialty Products Partners will post -1.84 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Gregory J. Morical sold 11,111 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $15.04, for a total value of $167,109.44. Following the completion of the sale, the senior vice president now directly owns 33,845 shares of the company’s stock, valued at approximately $509,028.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.91% of the company’s stock.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wasserstein Debt Opportunities Management L.P. purchased a new stake in shares of Calumet Specialty Products Partners in the fourth quarter worth approximately $119,698,000. Raymond James & Associates raised its holdings in shares of Calumet Specialty Products Partners by 11.0% in the first quarter. Raymond James & Associates now owns 504,368 shares of the oil and gas company’s stock worth $7,495,000 after buying an additional 50,008 shares during the period. Grizzlyrock Capital LLC purchased a new stake in shares of Calumet Specialty Products Partners in the fourth quarter worth approximately $8,909,000. Corient Private Wealth LLC purchased a new stake in shares of Calumet Specialty Products Partners in the fourth quarter worth approximately $8,312,000. Finally, ING Groep NV raised its holdings in shares of Calumet Specialty Products Partners by 31.9% in the fourth quarter. ING Groep NV now owns 95,000 shares of the oil and gas company’s stock worth $1,698,000 after buying an additional 23,000 shares during the period. 34.41% of the stock is currently owned by hedge funds and other 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.