Cowen and Company restated their hold rating on shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) in a research report sent to investors on Friday, July 14th. They currently have a $5.00 price target on the oil and gas company’s stock.
Other analysts have also recently issued reports about the stock. BidaskClub cut shares of Calumet Specialty Products Partners, L.P. from a hold rating to a sell rating in a research report on Tuesday, July 11th. Credit Suisse Group lowered shares of Calumet Specialty Products Partners, L.P. from a neutral rating to an underperform rating and reduced their price objective for the stock from $5.00 to $3.00 in a research report on Friday, March 24th. Wells Fargo & Company raised shares of Calumet Specialty Products Partners, L.P. from a market perform rating to an outperform rating and set a $6.00 price objective on the stock in a research report on Wednesday, May 10th. Royal Bank Of Canada reissued a hold rating and issued a $4.00 price objective on shares of Calumet Specialty Products Partners, L.P. in a research report on Thursday, March 30th. Finally, Zacks Investment Research raised shares of Calumet Specialty Products Partners, L.P. from a hold rating to a strong-buy rating and set a $4.75 price objective on the stock in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $4.46.
Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) opened at 5.25 on Friday. Calumet Specialty Products Partners, L.P. has a 52 week low of $5.22 and a 52 week high of $5.80. The company’s market capitalization is $402.63 million.
Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) last announced its earnings results on Thursday, May 4th. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.60. The firm had revenue of $937.40 million for the quarter, compared to analysts’ expectations of $1.02 billion. Calumet Specialty Products Partners, L.P. had a negative net margin of 6.97% and a negative return on equity of 65.80%. On average, equities research analysts forecast that Calumet Specialty Products Partners, L.P. will post ($1.22) EPS for the current year.
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In other news, CFO David West Griffin bought 9,000 shares of the stock in a transaction on Friday, July 7th. The stock was bought at an average cost of $4.15 per share, for a total transaction of $37,350.00. Following the completion of the purchase, the chief financial officer now directly owns 19,600 shares in the company, valued at $81,340. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James S. Carter bought 13,600 shares of the stock in a transaction on Friday, May 26th. The stock was purchased at an average price of $3.70 per share, with a total value of $50,320.00. Following the completion of the purchase, the director now owns 93,441 shares of the company’s stock, valued at $345,731.70. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 91,052 shares of company stock worth $402,267. Insiders own 4.75% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CLMT. Sound Point Capital Management LP bought a new position in Calumet Specialty Products Partners, L.P. during the first quarter worth about $2,844,000. Renaissance Technologies LLC boosted its position in 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 position in 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 position in 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 position 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 valued at $1,754,000 after buying an additional 11,265 shares during the period. 11.31% of the stock is owned by institutional investors and hedge funds.
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.
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