Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) have earned an average rating of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $4.40.
A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded Calumet Specialty Products Partners, L.P. from a “strong-buy” rating to a “hold” rating in a report on Thursday. Wells Fargo & Company upgraded Calumet Specialty Products Partners, L.P. from a “market perform” rating to an “outperform” rating and set a $6.00 price target on the stock in a report on Wednesday, May 10th. 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 report on Friday, July 14th. BidaskClub downgraded Calumet Specialty Products Partners, L.P. from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $4.00 price target on shares of Calumet Specialty Products Partners, L.P. in a report on Thursday, March 30th.
Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) traded up 4.04% during trading on Tuesday, hitting $5.15. The stock had a trading volume of 487,761 shares. The stock’s market capitalization is $394.96 million. Calumet Specialty Products Partners, L.P. has a 12 month low of $4.80 and a 12 month high of $6.41.
Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) last released its quarterly earnings data on Thursday, May 4th. The oil and gas company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.60. Calumet Specialty Products Partners, L.P. had a negative return on equity of 65.80% and a negative net margin of 6.97%. The company had revenue of $937.40 million for the quarter, compared to the consensus estimate of $1.02 billion. On average, equities research analysts predict that Calumet Specialty Products Partners, L.P. will post ($1.22) earnings per share for the current fiscal year.
In other news, CFO David West Griffin purchased 6,000 shares of the stock in a transaction on Monday, July 3rd. The stock was bought at an average price of $4.21 per share, with a total value of $25,260.00. Following the transaction, the chief financial officer now owns 13,600 shares in the company, valued at approximately $57,256. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James S. Carter purchased 13,600 shares of the stock in a transaction on Friday, May 26th. The shares were purchased at an average cost of $3.70 per share, with a total value of $50,320.00. Following the transaction, the director now owns 93,441 shares in the company, valued at approximately $345,731.70. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 61,969 shares of company stock valued at $251,284. 4.75% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Sound Point Capital Management LP purchased a new stake in shares of Calumet Specialty Products Partners, L.P. during the first quarter worth approximately $2,844,000. Renaissance Technologies LLC boosted its stake in shares of Calumet Specialty Products Partners, L.P. by 239.7% in the fourth quarter. Renaissance Technologies LLC now owns 534,700 shares of the oil and gas company’s stock worth $2,139,000 after buying an additional 377,300 shares in the last quarter. Adams Asset Advisors LLC boosted its stake in shares of Calumet Specialty Products Partners, L.P. by 54.0% in the first quarter. Adams Asset Advisors LLC now owns 630,600 shares of the oil and gas company’s stock worth $2,396,000 after buying an additional 221,100 shares in the last quarter. Morgan Stanley boosted its stake in shares of Calumet Specialty Products Partners, L.P. by 13.5% in the first quarter. Morgan Stanley now owns 704,438 shares of the oil and gas company’s stock worth $2,677,000 after buying an additional 83,995 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Calumet Specialty Products Partners, L.P. by 2.5% in the first quarter. Wells Fargo & Company MN now owns 461,750 shares of the oil and gas company’s stock worth $1,754,000 after buying an additional 11,265 shares in the last quarter. 11.21% of the stock is owned by institutional investors.
About Calumet Specialty Products Partners, L.P.
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.
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.
