Calumet Specialty Products Partners (NASDAQ:CLMT) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Calumet Specialty Products Partners (NASDAQ:CLMT) from a sell rating to a hold rating in a research note issued to investors on Friday.

Separately, HC Wainwright reiterated a buy rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, August 7th.

Calumet Specialty Products Partners Price Performance

CLMT stock opened at $19.43 on Friday. Calumet Specialty Products Partners has a 12 month low of $12.50 and a 12 month high of $20.50. The firm has a market cap of $1.55 billion, a PE ratio of -35.33 and a beta of 2.00. The firm has a 50 day simple moving average of $17.16 and a 200 day simple moving average of $16.89.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings results on Friday, August 4th. The oil and gas company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.12). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Calumet Specialty Products Partners had a negative net margin of 1.06% and a negative return on equity of 4.22%. As a group, sell-side analysts expect that Calumet Specialty Products Partners will post 0.04 earnings per share for the current year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Hedge funds have recently made changes to their positions in the stock. Morgan Stanley grew its position in Calumet Specialty Products Partners by 64.4% in the 4th quarter. Morgan Stanley now owns 887,601 shares of the oil and gas company’s stock valued at $14,983,000 after purchasing an additional 347,639 shares during the period. F M Investments LLC bought a new stake in shares of Calumet Specialty Products Partners during the second quarter valued at about $9,059,000. Price Jennifer C. bought a new stake in shares of Calumet Specialty Products Partners during the second quarter valued at about $9,059,000. Goldman Sachs Group Inc. increased its position in shares of Calumet Specialty Products Partners by 3.0% during the second quarter. Goldman Sachs Group Inc. now owns 315,032 shares of the oil and gas company’s stock valued at $3,273,000 after buying an additional 9,267 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Calumet Specialty Products Partners by 4.5% in the second quarter. Royal Bank of Canada now owns 310,544 shares of the oil and gas company’s stock worth $4,925,000 after purchasing an additional 13,348 shares during the last quarter. 19.96% of the stock is currently owned by institutional investors and hedge funds.

Calumet Specialty Products Partners Company Profile

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets slate of specialty branded products to various consumer-facing and industrial markets in North America and internationally. Its Specialty Products and Solutions segment offers various solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products.