Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) was downgraded by analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday. They presently have a $9.00 target price on the oil and gas company’s stock, up from their prior target price of $8.50. Janney Montgomery Scott’s price target indicates a potential upside of 11.80% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Calumet Specialty Products Partners, L.P. from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Friday, August 18th. BidaskClub upgraded shares of Calumet Specialty Products Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Cowen and Company reiterated a “hold” rating and issued a $5.00 price target on shares of Calumet Specialty Products Partners, L.P. in a research report on Friday, July 14th. ValuEngine upgraded shares of Calumet Specialty Products Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, Wells Fargo & Company upgraded shares of Calumet Specialty Products Partners, L.P. from a “market perform” rating to an “outperform” rating and set a $6.00 price target for the company in a research report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Calumet Specialty Products Partners, L.P. has a consensus rating of “Hold” and an average price target of $5.43.

Calumet Specialty Products Partners, L.P. (NASDAQ CLMT) opened at 8.05 on Tuesday. The stock has a 50 day moving average price of $6.05 and a 200 day moving average price of $4.50. Calumet Specialty Products Partners, L.P. has a one year low of $2.79 and a one year high of $9.10. The company’s market cap is $617.67 million.

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) last posted its quarterly earnings results on Friday, August 4th. The oil and gas company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.58. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $841 million. Calumet Specialty Products Partners, L.P. had a negative net margin of 2.81% and a negative return on equity of 48.17%. On average, equities analysts anticipate that Calumet Specialty Products Partners, L.P. will post ($0.21) EPS for the current fiscal year.

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In related news, CFO David West Griffin bought 6,369 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was purchased at an average price of $4.14 per share, for a total transaction of $26,367.66. Following the completion of the transaction, the chief financial officer now owns 32,200 shares in the company, valued at $133,308. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have purchased 78,005 shares of company stock valued at $354,884. 4.75% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of CLMT. Sound Point Capital Management LP bought a new position in shares of Calumet Specialty Products Partners, L.P. during the first quarter worth $2,844,000. GSA Capital Partners LLP boosted its position in shares of Calumet Specialty Products Partners, L.P. by 72.0% during the second quarter. GSA Capital Partners LLP now owns 230,822 shares of the oil and gas company’s stock worth $981,000 after acquiring an additional 96,622 shares during the last quarter. Morgan Stanley boosted its position in shares of Calumet Specialty Products Partners, L.P. by 13.5% during the first quarter. Morgan Stanley now owns 704,438 shares of the oil and gas company’s stock worth $2,677,000 after acquiring an additional 83,995 shares during the last quarter. Adams Asset Advisors LLC boosted its position in shares of Calumet Specialty Products Partners, L.P. by 11.9% during the second quarter. Adams Asset Advisors LLC now owns 705,332 shares of the oil and gas company’s stock worth $2,998,000 after acquiring an additional 74,732 shares during the last quarter. Finally, Linscomb & Williams Inc. boosted its position in shares of Calumet Specialty Products Partners, L.P. by 49.1% during the second quarter. Linscomb & Williams Inc. now owns 146,364 shares of the oil and gas company’s stock worth $622,000 after acquiring an additional 48,201 shares during the last quarter. Hedge funds and other institutional investors own 9.71% of the company’s stock.

Calumet Specialty Products Partners, L.P. Company Profile

Calumet Specialty Products Partners, L.P. is a producer of specialty hydrocarbon products in North America. The Company operates through three segments: specialty products, fuel products and oilfield services. 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.

Analyst Recommendations for Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)

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