Calumet Specialty Products Partners (NASDAQ:CLMT) Coverage Initiated at StockNews.com

Analysts at StockNews.com began coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMTGet Free Report) in a report issued on Friday. The brokerage set a “hold” rating on the oil and gas company’s stock.

Several other equities research analysts also recently commented on CLMT. The Goldman Sachs Group cut their price objective on Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, March 21st. TheStreet raised Calumet Specialty Products Partners from a “d+” rating to a “c-” rating in a report on Monday, December 11th.

View Our Latest Research Report on CLMT

Calumet Specialty Products Partners Trading Up 3.3 %

Shares of CLMT opened at $14.86 on Friday. The stock has a market cap of $1.19 billion, a P/E ratio of 18.81 and a beta of 1.78. The stock’s 50-day moving average price is $15.63 and its two-hundred day moving average price is $16.40. Calumet Specialty Products Partners has a 1 year low of $11.91 and a 1 year high of $19.91.

Calumet Specialty Products Partners (NASDAQ:CLMTGet Free Report) last posted its earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.40). The business had revenue of $976.50 million for the quarter, compared to the consensus estimate of $856.71 million. Calumet Specialty Products Partners had a negative return on equity of 4.23% and a net margin of 1.55%. Calumet Specialty Products Partners’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) earnings per share. As a group, equities analysts forecast that Calumet Specialty Products Partners will post -0.52 EPS for the current year.

Insider Buying and Selling

In related news, Director Stephen P. Mawer sold 15,037 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $17.87, for a total value of $268,711.19. Following the transaction, the director now owns 172,610 shares in the company, valued at $3,084,540.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.91% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CLMT. ICA Group Wealth Management LLC acquired a new stake in shares of Calumet Specialty Products Partners during the fourth quarter valued at about $116,000. Goldman Sachs Group Inc. boosted its stake in shares of Calumet Specialty Products Partners by 2.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 577,806 shares of the oil and gas company’s stock valued at $10,325,000 after purchasing an additional 11,750 shares in the last quarter. West Tower Group LLC acquired a new stake in shares of Calumet Specialty Products Partners during the fourth quarter valued at about $331,000. Grizzlyrock Capital LLC acquired a new stake in shares of Calumet Specialty Products Partners during the fourth quarter valued at about $8,909,000. Finally, Wasserstein Debt Opportunities Management L.P. acquired a new stake in shares of Calumet Specialty Products Partners during the fourth quarter valued at about $119,698,000. Institutional investors own 34.41% of the company’s stock.

About Calumet Specialty Products Partners

(Get Free Report)

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Performance brands; Montana/Renewables; and Corporate segments.

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