Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Gap Up to $15.03

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) gapped up before the market opened on Thursday . The stock had previously closed at $15.03, but opened at $15.98. Calumet Specialty Products Partners shares last traded at $16.23, with a volume of 133,121 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CLMT. StockNews.com assumed coverage on shares of Calumet Specialty Products Partners in a research report on Friday. They set a “hold” rating on the stock. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, August 12th. The Goldman Sachs Group decreased their target price on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Finally, TD Cowen cut their price target on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.33.

Calumet Specialty Products Partners Trading Up 3.5 %

The company has a market capitalization of $1.47 billion, a P/E ratio of -245.14 and a beta of 1.92. The stock’s fifty day moving average is $15.69 and its 200 day moving average is $15.60.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $889.17 million. The business’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the company posted ($0.19) earnings per share. On average, analysts expect that Calumet Specialty Products Partners, L.P. will post -1.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

A number of large investors have recently made changes to their positions in the business. Wasserstein Debt Opportunities Management L.P. lifted its stake in 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 worth $110,606,000 after acquiring an additional 193,063 shares during the period. Raymond James & Associates grew its position in shares of Calumet Specialty Products Partners by 13.4% in the 2nd quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after buying an additional 67,689 shares during the period. Grizzlyrock Capital LLC bought a new position in shares of Calumet Specialty Products Partners in the 4th quarter worth about $8,909,000. Corient Private Wealth LLC purchased a new position in Calumet Specialty Products Partners during the 4th quarter valued at about $8,312,000. Finally, ING Groep NV boosted its stake in Calumet Specialty Products Partners by 31.9% during the fourth quarter. ING Groep NV now owns 95,000 shares of the oil and gas company’s stock worth $1,698,000 after acquiring an additional 23,000 shares in the last quarter. 34.41% of the stock is currently owned by institutional investors.

Calumet Specialty Products Partners Company Profile

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.