Calumet Specialty Products Partners, L.P (CLMT) Stock Rating Lowered by BidaskClub

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

A number of other brokerages have also issued reports on CLMT. Zacks Investment Research lowered Calumet Specialty Products Partners, L.P from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Cowen restated a “hold” rating and set a $5.00 price objective on shares of Calumet Specialty Products Partners, L.P in a research report on Tuesday, October 17th. Finally, Wells Fargo & Co raised their price objective on Calumet Specialty Products Partners, L.P from $7.00 to $10.00 and gave the company an “outperform” rating in a research report on Friday, September 29th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $6.29.

Shares of Calumet Specialty Products Partners, L.P (CLMT) opened at $7.38 on Thursday. Calumet Specialty Products Partners, L.P has a 12 month low of $3.40 and a 12 month high of $9.95. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 10.67. The stock has a market capitalization of $571.64, a price-to-earnings ratio of -5.86 and a beta of 1.23.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last issued its quarterly earnings results on Thursday, December 28th. The oil and gas company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.55). Calumet Specialty Products Partners, L.P had a negative return on equity of 48.84% and a negative net margin of 2.47%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1 billion. equities analysts expect that Calumet Specialty Products Partners, L.P will post -0.51 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLMT. Investment Centers of America Inc. grew its position 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 acquiring an additional 292 shares in the last quarter. Westwood Holdings Group Inc. purchased a new position in Calumet Specialty Products Partners, L.P in the second quarter worth about $110,000. Jane Street Group LLC purchased a new position in Calumet Specialty Products Partners, L.P in the third quarter worth about $145,000. JPMorgan Chase & Co. grew its position 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 acquiring an additional 28,000 shares in the last quarter. Finally, Virtu KCG Holdings LLC grew its position in 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 acquiring an additional 2,931 shares in the last quarter. Institutional investors own 13.80% of the company’s stock.

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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.

Analyst Recommendations for Calumet Specialty Products Partners, L.P (NASDAQ:CLMT)

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