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

StockNews.com assumed coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a report issued on Friday. The firm issued a hold rating on the oil and gas company’s stock.

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

Calumet Specialty Products Partners Price Performance

Shares of NASDAQ:CLMT traded up $0.50 during trading on Friday, hitting $15.97. The company had a trading volume of 141,736 shares, compared to its average volume of 107,404. Calumet Specialty Products Partners has a one year low of $11.91 and a one year high of $19.91. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -228.14 and a beta of 1.75. The company has a fifty day simple moving average of $15.32 and a two-hundred day simple moving average of $15.98.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $856.71 million. Calumet Specialty Products Partners’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.21) earnings per share. On average, equities research analysts anticipate that Calumet Specialty Products Partners will post -1.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Gregory J. Morical sold 11,111 shares of Calumet Specialty Products Partners stock in a transaction dated 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 transaction, the senior vice president now owns 33,845 shares in the company, valued at approximately $509,028.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Deuterium Capital Management LLC acquired a new stake in shares of Calumet Specialty Products Partners during the first quarter valued at about $159,000. GSA Capital Partners LLP purchased a new stake in shares of Calumet Specialty Products Partners during the first quarter worth $493,000. J.W. Cole Advisors Inc. raised its stake in shares of Calumet Specialty Products Partners by 4.3% in the first quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock valued at $306,000 after acquiring an additional 850 shares in the last quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. acquired a new position in Calumet Specialty Products Partners during the 1st quarter worth $171,000. Finally, PFG Investments LLC purchased a new stake in Calumet Specialty Products Partners during the 1st quarter worth about $155,000. Institutional investors and hedge funds 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.