Calumet Specialty Products Partners, L.P.’s (CLMT) Hold Rating Reaffirmed at Cowen and Company

Cowen and Company restated their hold rating on shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) in a report published on Friday morning. Cowen and Company currently has a $5.00 target price on the oil and gas company’s stock.

CLMT has been the subject of a number of other research reports. BidaskClub lowered Calumet Specialty Products Partners, L.P. from a hold rating to a sell rating in a research report on Tuesday, July 11th. Credit Suisse Group lowered Calumet Specialty Products Partners, L.P. from a neutral rating to an underperform rating and reduced their price target for the stock from $5.00 to $3.00 in a research report on Friday, March 24th. Wells Fargo & Company upgraded Calumet Specialty Products Partners, L.P. from a market perform rating to an outperform rating and set a $6.00 price target for the company in a research report on Wednesday, May 10th. Royal Bank Of Canada reiterated a hold rating and set a $4.00 price target on shares of Calumet Specialty Products Partners, L.P. in a research report on Thursday, March 30th. Finally, Zacks Investment Research upgraded Calumet Specialty Products Partners, L.P. from a hold rating to a strong-buy rating and set a $4.75 price target for the company in a research report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $4.46.

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) traded up 2.41% during midday trading on Friday, hitting $4.25. The company had a trading volume of 232,410 shares. Calumet Specialty Products Partners, L.P. has a 12 month low of $4.10 and a 12 month high of $4.26.

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) last released its quarterly earnings data on Thursday, May 4th. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.68) by $0.60. Calumet Specialty Products Partners, L.P. had a negative return on equity of 65.80% and a negative net margin of 6.97%. The business had revenue of $937.40 million during the quarter, compared to analyst estimates of $1.02 billion. On average, equities research analysts predict that Calumet Specialty Products Partners, L.P. will post ($1.22) EPS for the current fiscal year.

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In other Calumet Specialty Products Partners, L.P. news, CFO David West Griffin purchased 6,369 shares of Calumet Specialty Products Partners, L.P. stock in a transaction on Monday, July 17th. The stock was bought at an average price of $4.14 per share, for a total transaction of $26,367.66. Following the transaction, the chief financial officer now owns 32,200 shares of the company’s stock, valued at approximately $133,308. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James S. Carter purchased 13,600 shares of Calumet Specialty Products Partners, L.P. stock in a transaction on Friday, May 26th. The shares were acquired at an average price of $3.70 per share, with a total value of $50,320.00. Following the transaction, the director now directly owns 93,441 shares in the company, valued at approximately $345,731.70. The disclosure for this purchase can be found here. Insiders have acquired a total of 61,169 shares of company stock valued at $247,692 in the last quarter. 4.75% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp increased its stake in Calumet Specialty Products Partners, L.P. by 5.0% in the first quarter. Fifth Third Bancorp now owns 31,800 shares of the oil and gas company’s stock worth $121,000 after buying an additional 1,500 shares in the last quarter. Linscomb & Williams Inc. increased its stake in Calumet Specialty Products Partners, L.P. by 0.6% in the first quarter. Linscomb & Williams Inc. now owns 98,163 shares of the oil and gas company’s stock worth $373,000 after buying an additional 600 shares in the last quarter. Wells Fargo & Company MN increased its stake in Calumet Specialty Products Partners, L.P. by 2.5% in the first quarter. Wells Fargo & Company MN now owns 461,750 shares of the oil and gas company’s stock worth $1,754,000 after buying an additional 11,265 shares in the last quarter. Renaissance Technologies LLC increased its stake in Calumet Specialty Products Partners, L.P. by 239.7% in the fourth quarter. Renaissance Technologies LLC now owns 534,700 shares of the oil and gas company’s stock worth $2,139,000 after buying an additional 377,300 shares in the last quarter. Finally, Adams Asset Advisors LLC increased its stake in Calumet Specialty Products Partners, L.P. by 54.0% in the first quarter. Adams Asset Advisors LLC now owns 630,600 shares of the oil and gas company’s stock worth $2,396,000 after buying an additional 221,100 shares in the last quarter. 11.21% of the stock is currently owned by institutional investors.

Calumet Specialty Products Partners, L.P. Company Profile

Calumet Specialty Products Partners, L.P. is a producer of specialty hydrocarbon products in North America. The Company operates through three segments: specialty products, fuel products and oilfield services. In its specialty products segment, the Company processes crude oil and other feedstocks into a range of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes.

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