Zacks Investment Research upgraded shares of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) from a hold rating to a buy rating in a research report sent to investors on Friday morning. They currently have $4.25 price objective on the stock.

According to Zacks, “Calumet Specialty Products Partners, L.P. is a leading independent producer of high-quality, specialty hydrocarbon products in North America. Calumet processes crude oil into customized lubricating oils, solvents, and waxes used in consumer, industrial, and automotive products. The Company also produces fuel products including gasoline, diesel fuel and jet fuel. Calumet is based in Indianapolis, Indiana and has three plants located in northwest Louisiana. “

CLMT has been the topic of a number of other research reports. FBR & Co began coverage on shares of Calumet Specialty Products Partners, L.P in a report on Friday, September 9th. They issued a market perform rating and a $6.00 price objective on the stock. DA Davidson reiterated a neutral rating on shares of Calumet Specialty Products Partners, L.P in a research report on Monday, September 19th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $10.30.

Shares of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) traded down 1.418% during mid-day trading on Friday, hitting $3.825. 59,012 shares of the stock traded hands. Calumet Specialty Products Partners, L.P has a 12-month low of $3.42 and a 12-month high of $27.88. The firm’s 50 day moving average price is $5.12 and its 200-day moving average price is $5.45. The stock’s market cap is $292.12 million.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($1.89) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.34) by $1.55. Analysts predict that Calumet Specialty Products Partners, L.P will post ($3.09) earnings per share for the current year.

In other news, EVP Bruce A. Fleming acquired 15,000 shares of the company’s stock in a transaction on Wednesday, August 24th. The stock was purchased at an average cost of $5.50 per share, with a total value of $82,500.00. Following the acquisition, the executive vice president now owns 85,000 shares of the company’s stock, valued at approximately $467,500. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Several institutional investors have recently bought and sold shares of the company. State Street Corp raised its position in Calumet Specialty Products Partners, L.P by 4.1% in the first quarter. State Street Corp now owns 52,980 shares of the company’s stock valued at $622,000 after buying an additional 2,072 shares during the last quarter. Rafferty Asset Management LLC raised its position in Calumet Specialty Products Partners, L.P by 25.5% in the first quarter. Rafferty Asset Management LLC now owns 110,787 shares of the company’s stock valued at $1,302,000 after buying an additional 22,513 shares during the last quarter. Creative Planning raised its position in Calumet Specialty Products Partners, L.P by 27.1% in the second quarter. Creative Planning now owns 33,956 shares of the company’s stock valued at $166,000 after buying an additional 7,250 shares during the last quarter. Arrow Investment Advisors LLC raised its position in Calumet Specialty Products Partners, L.P by 96.9% in the second quarter. Arrow Investment Advisors LLC now owns 57,921 shares of the company’s stock valued at $284,000 after buying an additional 28,500 shares during the last quarter. Finally, Commonwealth Equity Services Inc raised its position in Calumet Specialty Products Partners, L.P by 11.7% in the second quarter. Commonwealth Equity Services Inc now owns 21,643 shares of the company’s stock valued at $106,000 after buying an additional 2,274 shares during the last quarter.

About Calumet Specialty Products Partners, L.P

Calumet Specialty Products Partners, L.P. is a producer of specialty hydrocarbon products. The Company operates through three segments. In its specialty products segment, the Company processes crude oil and other feedstocks into a range of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes.

5 Day Chart for NASDAQ:CLMT

Receive News & Stock Ratings for Calumet Specialty Products Partners L.P Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calumet Specialty Products Partners L.P and related stocks with our FREE daily email newsletter.