Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Receives Average Recommendation of "Buy" from Analysts

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) has earned a consensus rating of "Buy" from the four brokerages that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued a report on the stock in the last year is $24.00.

Several brokerages have recently issued reports on CLMT. StockNews.com began coverage on shares of Calumet Specialty Products Partners in a research note on Tuesday, October 15th. They set a "hold" rating for the company. HC Wainwright reaffirmed a "buy" rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a research report on Thursday. The Goldman Sachs Group cut their price objective on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, August 5th. Wells Fargo & Company boosted their price objective on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday. Finally, TD Cowen upped their target price on shares of Calumet Specialty Products Partners from $22.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday.

Calumet Specialty Products Partners Price Performance

CLMT traded up $1.09 during trading on Monday, hitting $21.15. The company's stock had a trading volume of 1,039,944 shares, compared to its average volume of 366,901. The firm's 50 day moving average price is $18.31 and its 200-day moving average price is $16.37. The stock has a market cap of $1.70 billion, a PE ratio of -302.14 and a beta of 1.92. Calumet Specialty Products Partners has a twelve month low of $9.97 and a twelve month high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last issued its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.07. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $889.17 million. The company's revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) earnings per share. Equities analysts anticipate that Calumet Specialty Products Partners will post -1.97 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Founders Financial Alliance LLC grew its position in Calumet Specialty Products Partners by 8.4% in the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company's stock worth $777,000 after purchasing an additional 3,750 shares during the last quarter. Creative Planning boosted its holdings in shares of Calumet Specialty Products Partners by 46.4% in the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company's stock valued at $1,002,000 after acquiring an additional 19,800 shares in the last quarter. DRW Securities LLC bought a new position in shares of Calumet Specialty Products Partners in the second quarter valued at approximately $898,000. Wedbush Securities Inc. bought a new position in shares of Calumet Specialty Products Partners in the second quarter valued at approximately $169,000. Finally, Wasserstein Debt Opportunities Management L.P. boosted its holdings in shares of Calumet Specialty Products Partners by 2.9% in the second quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company's stock valued at $110,606,000 after acquiring an additional 193,063 shares in the last quarter. Institutional investors own 34.41% of the company's stock.

About Calumet Specialty Products Partners

Calumet, Inc 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; Montana/Renewables; and Performance brands segments.