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

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

Separately, The Goldman Sachs Group reduced their price target on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a buy rating for the company in a research report on Thursday, March 21st.

Calumet Specialty Products Partners Stock Down 0.1 %

Shares of Calumet Specialty Products Partners stock opened at $14.98 on Friday. The firm has a market capitalization of $1.20 billion, a P/E ratio of 18.96 and a beta of 1.76. The company has a 50 day moving average price of $15.51 and a 200 day moving average price of $16.05. 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) last announced its quarterly earnings data on Friday, February 23rd. The oil and gas company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.40). The company had revenue of $976.50 million for the quarter, compared to analysts’ expectations of $856.71 million. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.21) earnings per share. As a group, research analysts anticipate that Calumet Specialty Products Partners will post -0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Stephen P. Mawer sold 15,037 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $17.87, for a total transaction of $268,711.19. Following the sale, the director now owns 172,610 shares of the company’s stock, valued at approximately $3,084,540.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.91% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in shares of Calumet Specialty Products Partners by 335.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,689 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 1,301 shares during the period. IFP Advisors Inc acquired a new stake in Calumet Specialty Products Partners in the 2nd quarter valued at $32,000. Worth Asset Management LLC acquired a new stake in Calumet Specialty Products Partners in the 1st quarter valued at $54,000. BNP Paribas Arbitrage SA acquired a new stake in Calumet Specialty Products Partners in the 2nd quarter valued at $76,000. Finally, Covestor Ltd acquired a new stake in Calumet Specialty Products Partners in the 1st quarter valued at $77,000. 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.