Calumet Specialty Products Partners (NASDAQ:CLMT) Splits Up to $11.79

Shares of Calumet Specialty Products Partners, LP (NASDAQ:CLMT – Get Free Report ) were lower in pre-market trading on Friday. The stock had previously closed at $11.79 but opened at $12.40. Calumet Specialty Products Partners shares last traded at $13.02, with a volume of 50,128 shares changing hands.

Analysts on Wall Street are forecasting an increase

CLMT has been the subject of several recent research reports. Goldman Sachs Group reduced 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 research report on Monday, August 5th. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, May 13th. Finally, StockNews.com began coverage on shares of Calumet Specialty Products Partners in a research note on Sunday, August 4th. They set a “hold” rating on the company.

Read our latest review of CLMT

Calumet specialty product partners Stock of 15.7%

The company has a 50-day moving average of $15.02 and a 200-day moving average of $15.41. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -194.86 and a beta of 1.93.

Calumet Specialty Products Partners (NASDAQ:CLMT – Get Free Report ) last released its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.08). 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 revenue was up 11.4% compared to the same quarter last year. In the same quarter last year, the company earned ($0.19) earnings per share. research analysts forecast that Calumet Specialty Products Partners, LP will post -1.9 earnings per share for the current year.

Insiders place their bets

In other news, SVP Gregory J. Morical sold 11,111 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $15.04, for a total transaction of $167,109.44. Following the sale, the senior vice president now owns 33,845 shares in the company, valued at $509,028.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. 2.91% of shares are held by corporate insiders.

Institutional inputs and outputs

Several large investors have recently modified their holdings of CLMT. Wasserstein Debt Opportunities Management LP purchased a new position in Calumet Specialty Products Partners in the fourth quarter valued at about $119,698,000. Grizzlyrock Capital LLC purchased a new position in Calumet Specialty Products Partners in the fourth quarter valued at $8,909,000. Corient Private Wealth LLC purchased a new position in Calumet Specialty Products Partners in the fourth quarter valued at $8,312,000. Raymond James & Associates boosted its stake in Calumet Specialty Products Partners by 13.4% in the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after acquiring an additional 67,689 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Calumet Specialty Products Partners in the 1st quarter worth approximately $493,000. 34.41% of the shares are currently held by hedge funds and other institutional investors.

About Calumet Specialty Products Partners

(Get a free report)

Calumet Specialty Products Partners, LP manufactures, formulates and markets a diverse range of branded specialty products and renewable fuels for various industrial and consumer markets in North America and internationally. It works through specialized products and solutions; Performance marks; Montana/Renewables; and Corporate segments.

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