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

Equities research analysts at StockNews.com assumed coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) in a research report issued to clients and investors on Tuesday. The firm set a "hold" rating on the oil and gas company's stock.

Several other analysts have also issued reports on the company. The Goldman Sachs Group cut their target price 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. HC Wainwright reaffirmed a "buy" rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday, April 22nd.

Calumet Specialty Products Partners Stock Down 2.2 %

Shares of CLMT stock traded down $0.36 during trading on Tuesday, hitting $15.66. The company had a trading volume of 93,712 shares, compared to its average volume of 118,541. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 19.82 and a beta of 1.76. The stock's 50-day moving average is $15.26 and its two-hundred day moving average is $15.89. Calumet Specialty Products Partners has a 52 week low of $11.91 and a 52 week high of $19.91.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last issued its earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.40). The business had revenue of $976.50 million during the quarter, compared to analyst estimates of $856.71 million. Calumet Specialty Products Partners's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.21) earnings per share. On average, research analysts predict that Calumet Specialty Products Partners will post -0.86 EPS for the current fiscal year.

Institutional Trading of Calumet Specialty Products Partners

A number of institutional investors have recently made changes to their positions in CLMT. Wasserstein Debt Opportunities Management L.P. purchased a new stake in shares of Calumet Specialty Products Partners during the fourth quarter valued at approximately $119,698,000. Grizzlyrock Capital LLC purchased a new stake in shares of Calumet Specialty Products Partners during the fourth quarter valued at approximately $8,909,000. Corient Private Wealth LLC bought a new position in shares of Calumet Specialty Products Partners during the fourth quarter valued at approximately $8,312,000. Raymond James & Associates raised its holdings in shares of 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 valued at $8,119,000 after acquiring an additional 128,693 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Calumet Specialty Products Partners by 38.1% during the third quarter. Barclays PLC now owns 200,870 shares of the oil and gas company's stock valued at $3,837,000 after acquiring an additional 55,370 shares in the last quarter. Hedge funds and other institutional investors own 34.41% of the company's stock.

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.