Calumet Specialty Products Partners, L.P. (CLMT) Receives Hold Rating from Cowen and Company

Cowen and Company reaffirmed their hold rating on shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) in a report issued on Friday, July 14th. They currently have a $5.00 price target on the oil and gas company’s stock.

Several other equities analysts have also recently weighed in on the stock. Credit Suisse Group cut shares of Calumet Specialty Products Partners, L.P. from a neutral rating to an underperform rating and dropped their price target for the company from $5.00 to $3.00 in a research report on Friday, March 24th. Wells Fargo & Company upgraded shares of Calumet Specialty Products Partners, L.P. from a market perform rating to an outperform rating and set a $6.00 price objective for the company in a research note on Wednesday, May 10th. Zacks Investment Research upgraded shares of Calumet Specialty Products Partners, L.P. from a hold rating to a strong-buy rating and set a $4.75 price objective for the company in a research note on Tuesday, July 11th. Royal Bank Of Canada reiterated a hold rating and issued a $4.00 price objective on shares of Calumet Specialty Products Partners, L.P. in a research note on Thursday, March 30th. Finally, BidaskClub lowered shares of Calumet Specialty Products Partners, L.P. from a hold rating to a sell rating in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $4.46.

Calumet Specialty Products Partners, L.P. (CLMT) opened at 5.45 on Friday. Calumet Specialty Products Partners, L.P. has a 12 month low of $5.05 and a 12 month high of $5.47.

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, August 4th. The oil and gas company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.58. Calumet Specialty Products Partners, L.P. had a negative net margin of 2.81% and a negative return on equity of 48.17%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $841 million. Equities analysts predict that Calumet Specialty Products Partners, L.P. will post ($0.85) EPS for the current fiscal year.

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In related news, CFO David West Griffin acquired 6,369 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was bought at an average cost of $4.14 per share, with a total value of $26,367.66. Following the acquisition, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James S. Carter acquired 13,600 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were bought at an average cost of $3.70 per share, with a total value of $50,320.00. Following the completion of the acquisition, 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. Over the last three months, insiders acquired 91,605 shares of company stock valued at $405,204. Insiders own 4.75% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Investment Centers of America Inc. increased its stake in Calumet Specialty Products Partners, L.P. by 1.2% in the second quarter. Investment Centers of America Inc. now owns 23,984 shares of the oil and gas company’s stock worth $103,000 after buying an additional 292 shares in the last quarter. 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. JPMorgan Chase & Co. increased its stake in Calumet Specialty Products Partners, L.P. by 350.0% in the second quarter. JPMorgan Chase & Co. now owns 36,000 shares of the oil and gas company’s stock worth $154,000 after buying an additional 28,000 shares in the last quarter. Virtu KCG Holdings LLC boosted its position in shares of Calumet Specialty Products Partners, L.P. by 6.6% in the second quarter. Virtu KCG Holdings LLC now owns 47,580 shares of the oil and gas company’s stock worth $202,000 after buying an additional 2,931 shares during the last quarter. Finally, Linscomb & Williams Inc. boosted its position in shares of 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 during the last quarter. 11.29% of the stock is owned by institutional investors.

About Calumet Specialty Products Partners, L.P.

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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