Cowen and Company restated their hold rating on shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) in a report issued on Friday, July 14th. Cowen and Company currently has a $5.00 price target on the oil and gas company’s stock.
CLMT has been the subject of several other reports. Royal Bank Of Canada reaffirmed a hold rating and issued a $4.00 price objective on shares of Calumet Specialty Products Partners, L.P. in a report on Thursday, March 30th. Wells Fargo & Company raised Calumet Specialty Products Partners, L.P. from a market perform rating to an outperform rating and set a $6.00 price objective for the company in a report on Wednesday, May 10th. BidaskClub cut Calumet Specialty Products Partners, L.P. from a hold rating to a sell rating in a report on Tuesday, July 11th. Zacks Investment Research raised Calumet Specialty Products Partners, L.P. from a hold rating to a strong-buy rating and set a $4.75 price objective for the company in a report on Tuesday, July 11th. Finally, Credit Suisse Group cut Calumet Specialty Products Partners, L.P. from a neutral rating to an underperform rating and dropped their price objective for the company from $5.00 to $3.00 in a report on Friday, March 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $4.46.
Calumet Specialty Products Partners, L.P. (CLMT) traded up 6.86% during midday trading on Friday, hitting $5.45. 245,829 shares of the company’s stock traded hands. Calumet Specialty Products Partners, L.P. has a 52 week low of $5.05 and a 52 week high of $5.47.
Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) last released its quarterly earnings results on Friday, August 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.58. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $841 million. Calumet Specialty Products Partners, L.P. had a negative return on equity of 48.17% and a negative net margin of 2.81%. Equities research analysts predict that Calumet Specialty Products Partners, L.P. will post ($0.85) EPS for the current year.
In related news, CFO David West Griffin purchased 8,100 shares of Calumet Specialty Products Partners, L.P. stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average price of $5.19 per share, for a total transaction of $42,039.00. Following the transaction, the chief financial officer now owns 49,252 shares of the company’s stock, valued at approximately $255,617.88. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James S. Carter purchased 13,600 shares of Calumet Specialty Products Partners, L.P. stock in a transaction on Friday, May 26th. The stock was bought at an average price of $3.70 per share, for a total transaction of $50,320.00. Following the transaction, the director now directly owns 93,441 shares in the company, valued at approximately $345,731.70. The disclosure for this purchase can be found here. Insiders acquired a total of 91,605 shares of company stock worth $405,204 in the last quarter. Corporate insiders own 4.75% of the company’s stock.
Several large investors have recently made changes to their positions in CLMT. Investment Centers of America Inc. raised its stake in shares of Calumet Specialty Products Partners, L.P. by 1.2% in the second quarter. Investment Centers of America Inc. now owns 23,984 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 292 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Calumet Specialty Products Partners, L.P. by 5.0% in the first quarter. Fifth Third Bancorp now owns 31,800 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 1,500 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Calumet Specialty Products Partners, L.P. by 350.0% in the second quarter. JPMorgan Chase & Co. now owns 36,000 shares of the oil and gas company’s stock valued at $154,000 after buying an additional 28,000 shares during the last quarter. Virtu KCG Holdings LLC raised its stake in shares of Calumet Specialty Products Partners, L.P. by 6.6% in the second quarter. Virtu KCG Holdings LLC now owns 47,580 shares of the oil and gas company’s stock valued at $202,000 after buying an additional 2,931 shares during the last quarter. Finally, Linscomb & Williams Inc. raised its stake in shares of Calumet Specialty Products Partners, L.P. by 0.6% in the first quarter. Linscomb & Williams Inc. now owns 98,163 shares of the oil and gas company’s stock valued at $373,000 after buying an additional 600 shares during the last quarter. Institutional investors own 11.29% 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.
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