Calumet Specialty Products Partners (NASDAQ:CLMT) Receives New Coverage from Analysts at StockNews.com

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

Separately, HC Wainwright restated a buy rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, May 13th.

Calumet Specialty Products Partners Stock Up 7.4 %

Shares of Calumet Specialty Products Partners stock opened at $13.15 on Friday. The firm’s 50-day moving average price is $15.72 and its two-hundred day moving average price is $15.71. Calumet Specialty Products Partners has a 1-year low of $11.91 and a 1-year high of $19.91.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its earnings results on Friday, May 10th. The oil and gas company reported ($0.61) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.13. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $984.10 million. Research analysts anticipate that Calumet Specialty Products Partners will post -1.9 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Calumet Specialty Products Partners

Several hedge funds have recently added to or reduced their stakes in CLMT. Wasserstein Debt Opportunities Management L.P. bought a new stake in Calumet Specialty Products Partners during the 4th quarter worth about $119,698,000. Grizzlyrock Capital LLC bought a new stake in Calumet Specialty Products Partners in the fourth quarter valued at about $8,909,000. Corient Private Wealth LLC acquired a new position in Calumet Specialty Products Partners in the fourth quarter valued at about $8,312,000. Raymond James & Associates boosted its holdings in Calumet Specialty Products Partners by 39.5% during the fourth quarter. Raymond James & Associates now owns 454,360 shares of the oil and gas company’s stock worth $8,119,000 after buying an additional 128,693 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Calumet Specialty Products Partners in the 1st quarter valued at about $493,000. Institutional investors own 34.41% of the company’s stock.

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.