Calumet Specialty Products Partners (NASDAQ:CLMT) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT - Free Report) in a research note issued to investors on Wednesday morning. The firm issued a sell rating on the oil and gas company's stock.

A number of other brokerages have also recently issued reports on CLMT. HC Wainwright restated a "buy" rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Thursday, October 17th. TD Cowen upped their price objective on shares of Calumet Specialty Products Partners from $22.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. The Goldman Sachs Group decreased their target price on Calumet Specialty Products Partners from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, August 5th. Finally, Wells Fargo & Company raised their price target on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.00.

Calumet Specialty Products Partners Stock Up 0.2 %

NASDAQ:CLMT opened at $21.20 on Wednesday. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $25.29. The stock's fifty day simple moving average is $18.56 and its 200-day simple moving average is $16.45. The firm has a market capitalization of $1.70 billion, a P/E ratio of -302.86 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last issued its earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.55) by $0.07. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $889.17 million. Calumet Specialty Products Partners's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.19) EPS. As a group, equities research analysts expect 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 modified their holdings of the company. J.W. Cole Advisors Inc. lifted its position in Calumet Specialty Products Partners by 4.3% during the 1st quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company's stock worth $306,000 after buying an additional 850 shares in the last quarter. Sapient Capital LLC raised its holdings in Calumet Specialty Products Partners by 9.5% during the second quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company's stock worth $185,000 after acquiring an additional 1,000 shares in the last quarter. FAS Wealth Partners Inc. boosted its position in Calumet Specialty Products Partners by 4.5% during the second quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company's stock valued at $869,000 after purchasing an additional 2,308 shares during the last quarter. Founders Financial Alliance LLC grew its stake in Calumet Specialty Products Partners by 8.4% in the second quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company's stock valued at $777,000 after purchasing an additional 3,750 shares in the last quarter. Finally, ARS Investment Partners LLC increased its position in shares of Calumet Specialty Products Partners by 16.7% during the 2nd quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company's stock worth $506,000 after purchasing an additional 4,500 shares during the last quarter. 34.41% of the stock is owned by institutional investors and hedge funds.

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.