StockNews.com Begins Coverage on Calumet Specialty Products Partners (NASDAQ:CLMT)

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

Separately, The Goldman Sachs Group dropped 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 Down 2.4 %

Shares of NASDAQ CLMT opened at $15.00 on Friday. 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 capitalization of $1.20 billion, a price-to-earnings ratio of 18.99 and a beta of 1.76. The business has a 50-day moving average of $15.53 and a 200-day moving average of $16.07.

Calumet Specialty Products Partners (NASDAQ:CLMT) 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, analysts predict that Calumet Specialty Products Partners will post -0.52 earnings per share for the current year.

Insider Activity at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Stephen P. Mawer sold 15,037 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $17.87, for a total value of $268,711.19. Following the completion of the transaction, the director now owns 172,610 shares in the company, valued at $3,084,540.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.91% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its holdings in shares of Calumet Specialty Products Partners by 6.2% during the second quarter. NewEdge Advisors LLC now owns 12,411 shares of the oil and gas company’s stock valued at $129,000 after acquiring an additional 727 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of Calumet Specialty Products Partners by 2.9% during the third quarter. Atria Wealth Solutions Inc. now owns 36,000 shares of the oil and gas company’s stock valued at $688,000 after acquiring an additional 1,000 shares in the last quarter. Sheets Smith Wealth Management increased its holdings in shares of Calumet Specialty Products Partners by 11.2% during the fourth quarter. Sheets Smith Wealth Management now owns 12,202 shares of the oil and gas company’s stock valued at $218,000 after acquiring an additional 1,225 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Calumet Specialty Products Partners by 335.3% during the first quarter. Tower Research Capital LLC TRC now owns 1,689 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 1,301 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Calumet Specialty Products Partners by 0.6% during the third quarter. Royal Bank of Canada now owns 229,908 shares of the oil and gas company’s stock valued at $2,945,000 after acquiring an additional 1,425 shares in the last quarter. 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.