Calumet Specialty Products Partners (NASDAQ:CLMT) Receives New Coverage from Analysts at StockNews.com

Posted by Defense World Staff on Apr 14th, 2024

StockNews.com initiated coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT – Get Free Report) in a research note issued on Sunday. The firm set a “hold” rating on the oil and gas company’s stock.

Separately, The Goldman Sachs Group cut their price objective on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st.

Read Our Latest Research Report on CLMT

Calumet Specialty Products Partners Trading Down 0.4 %

Shares of Calumet Specialty Products Partners stock opened at $15.37 on Friday. Calumet Specialty Products Partners has a 12-month low of $11.91 and a 12-month high of $19.91. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 19.46 and a beta of 1.76. The firm’s 50 day simple moving average is $15.55 and its two-hundred day simple moving average is $16.12.

Calumet Specialty Products Partners (NASDAQ:CLMT – Get Free Report) last issued its quarterly 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 analyst estimates of $856.71 million. During the same quarter last year, the firm earned ($0.21) EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Calumet Specialty Products Partners will post -0.52 EPS for the current fiscal year.

Insider Transactions at Calumet Specialty Products Partners

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

Institutional Trading of Calumet Specialty Products Partners

A number of hedge funds have recently added to or reduced their stakes in CLMT. Advisor Group Holdings Inc. boosted its holdings in Calumet Specialty Products Partners by 24.6% during the first quarter. Advisor Group Holdings Inc. now owns 11,796 shares of the oil and gas company’s stock worth $160,000 after buying an additional 2,329 shares in the last quarter. Raymond James & Associates boosted its holdings in Calumet Specialty Products Partners by 15.1% during the first quarter. Raymond James & Associates now owns 308,055 shares of the oil and gas company’s stock worth $4,193,000 after buying an additional 40,480 shares in the last quarter. Citigroup Inc. boosted its holdings in Calumet Specialty Products Partners by 185.7% during the first quarter. Citigroup Inc. now owns 25,289 shares of the oil and gas company’s stock worth $344,000 after buying an additional 16,436 shares in the last quarter. Covestor Ltd purchased a new stake in Calumet Specialty Products Partners during the first quarter worth $77,000. Finally, Worth Asset Management LLC purchased a new stake in Calumet Specialty Products Partners during the first quarter worth $54,000. 34.41% of the stock is owned by hedge funds and other institutional investors.

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.