Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Up 4%

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) rose 4% during mid-day trading on Tuesday . The stock traded as high as $15.44 and last traded at $15.30. Approximately 66,196 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 100,299 shares. The stock had previously closed at $14.71.

Analyst Upgrades and Downgrades

CLMT has been the subject of several research reports. StockNews.com raised Calumet Specialty Products Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, November 14th. TheStreet cut Calumet Specialty Products Partners from a “c-” rating to a “d+” rating in a research note on Tuesday, October 31st. The Goldman Sachs Group reduced their price objective on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. Finally, HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Calumet Specialty Products Partners Trading Up 4.1 %

The business’s 50-day simple moving average is $16.59 and its 200-day simple moving average is $16.55. The company has a market cap of $1.23 billion, a PE ratio of 28.29 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings results on Thursday, November 9th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.16. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.03 billion. Calumet Specialty Products Partners had a negative return on equity of 4.22% and a net margin of 1.01%. On average, research analysts predict that Calumet Specialty Products Partners, L.P. will post 0.86 earnings per share for the current fiscal year.

Institutional Trading of Calumet Specialty Products Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its position in Calumet Specialty Products Partners by 335.3% during the first quarter. Tower Research Capital LLC TRC now owns 1,689 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 1,301 shares during the period. IFP Advisors Inc acquired a new position in shares of Calumet Specialty Products Partners during the second quarter valued at about $32,000. Worth Asset Management LLC acquired a new position in shares of Calumet Specialty Products Partners during the first quarter valued at about $54,000. BNP Paribas Arbitrage SA bought a new stake in shares of Calumet Specialty Products Partners in the second quarter valued at about $76,000. Finally, Covestor Ltd acquired a new stake in Calumet Specialty Products Partners during the first quarter worth about $77,000. Institutional investors and hedge funds own 19.96% of the company’s stock.

About Calumet Specialty Products Partners

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.