Calumet Specialty Products Partners (NASDAQ:CLMT) Now Covered by Analysts at StockNews.com

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

Several other brokerages have also recently weighed in on CLMT. TheStreet raised Calumet Specialty Products Partners from a d+ rating to a c- rating in a research note on Monday, December 11th. The Goldman Sachs Group reduced their price objective on Calumet Specialty Products Partners from $19.00 to $17.00 and set a buy rating on the stock in a research note on Thursday, March 21st.

Calumet Specialty Products Partners Stock Up 3.3 %

Shares of Calumet Specialty Products Partners stock opened at $14.86 on Friday. The stock’s 50-day simple moving average is $15.63 and its 200-day simple moving average is $16.42. Calumet Specialty Products Partners has a 52 week low of $11.91 and a 52 week high of $19.91. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 18.81 and a beta of 1.78.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.40). The firm had revenue of $976.50 million during the quarter, compared to analysts’ expectations of $856.71 million. Calumet Specialty Products Partners had a negative return on equity of 4.23% and a net margin of 1.55%. Calumet Specialty Products Partners’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. On average, equities analysts expect that Calumet Specialty Products Partners will post -0.52 earnings per share for the current year.

Insider Transactions at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Stephen P. Mawer sold 15,037 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $17.87, for a total transaction of $268,711.19. Following the transaction, the director now directly owns 172,610 shares in the company, valued at approximately $3,084,540.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.91% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its holdings in 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 bought a new stake in Calumet Specialty Products Partners during the 2nd quarter valued at $32,000. Worth Asset Management LLC bought a new stake in Calumet Specialty Products Partners during the 1st quarter valued at $54,000. Barclays PLC bought a new stake in Calumet Specialty Products Partners during the 4th quarter valued at $78,000. Finally, Advisory Services Network LLC bought a new stake in Calumet Specialty Products Partners during the 4th quarter valued at $86,000. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

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.