Calumet Specialty Products Partners (NASDAQ:CLMT) Stock Price Up 4.7%

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) shot up 4.7% during mid-day trading on Monday . The company traded as high as $18.07 and last traded at $17.96. 340,977 shares were traded during mid-day trading, an increase of 29% from the average session volume of 263,642 shares. The stock had previously closed at $17.16.

Wall Street Analyst Weigh In

Several research analysts have commented on CLMT shares. The Goldman Sachs Group dropped their price objective on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, August 5th. TD Cowen dropped their price target on Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, August 12th. StockNews.com assumed coverage on Calumet Specialty Products Partners in a research note on Friday. They issued a “hold” rating on the stock. Finally, HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.33.

Calumet Specialty Products Partners Price Performance

The firm has a market cap of $1.55 billion, a P/E ratio of -245.14 and a beta of 1.92. The stock’s 50-day simple moving average is $15.69 and its two-hundred day simple moving average is $15.60.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $889.17 million. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.19) earnings per share. As a group, sell-side analysts expect that Calumet Specialty Products Partners, L.P. will post -1.92 earnings per share for the current year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently modified their holdings of CLMT. Wasserstein Debt Opportunities Management L.P. grew its position in Calumet Specialty Products Partners by 2.9% in the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock valued at $110,606,000 after acquiring an additional 193,063 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Calumet Specialty Products Partners by 13.4% in the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after purchasing an additional 67,689 shares during the last quarter. Grizzlyrock Capital LLC purchased a new position in Calumet Specialty Products Partners in the 4th quarter worth about $8,909,000. Corient Private Wealth LLC bought a new stake in Calumet Specialty Products Partners during the 4th quarter valued at about $8,312,000. Finally, ING Groep NV boosted its position in Calumet Specialty Products Partners by 31.9% in the 4th quarter. ING Groep NV now owns 95,000 shares of the oil and gas company’s stock valued at $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.

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.