Calumet Specialty Products Partners, L.P (CLMT) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) from a sell rating to a hold rating in a research report released on Friday.

According to Zacks, “Calumet Specialty Products Partners, L.P. is a leading independent producer of high-quality, specialty hydrocarbon products in North America. Calumet processes crude oil into customized lubricating oils, solvents, and waxes used in consumer, industrial, and automotive products. The Company also produces fuel products including gasoline, diesel fuel and jet fuel. Calumet is based in Indianapolis, Indiana and has three plants located in northwest Louisiana. “

A number of other research analysts also recently weighed in on the stock. ValuEngine upgraded shares of Calumet Specialty Products Partners, L.P from a sell rating to a hold rating in a research report on Monday, February 4th. BidaskClub upgraded shares of Calumet Specialty Products Partners, L.P from a sell rating to a hold rating in a research report on Tuesday, January 15th. Finally, Cowen set a $5.00 price objective on shares of Calumet Specialty Products Partners, L.P and gave the company a hold rating in a research report on Wednesday, November 28th.

Shares of Calumet Specialty Products Partners, L.P stock opened at $4.19 on Friday. The company has a market cap of $298.55 million, a P/E ratio of -7.48 and a beta of 2.26. Calumet Specialty Products Partners, L.P has a twelve month low of $1.99 and a twelve month high of $8.75. The company has a debt-to-equity ratio of 41.13, a quick ratio of 0.71 and a current ratio of 1.41.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last issued its quarterly earnings data on Thursday, March 7th. The oil and gas company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.09. The company had revenue of $848.00 million for the quarter, compared to the consensus estimate of $716.03 million. Calumet Specialty Products Partners, L.P had a negative net margin of 3.90% and a negative return on equity of 45.78%. On average, research analysts anticipate that Calumet Specialty Products Partners, L.P will post -0.27 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Adams Asset Advisors LLC lifted its position in Calumet Specialty Products Partners, L.P by 91.3% during the fourth quarter. Adams Asset Advisors LLC now owns 3,178,028 shares of the oil and gas company’s stock valued at $7,023,000 after purchasing an additional 1,517,148 shares during the period. Knott David M raised its position in Calumet Specialty Products Partners, L.P by 5.2% in the fourth quarter. Knott David M now owns 1,534,031 shares of the oil and gas company’s stock worth $3,390,000 after acquiring an additional 76,300 shares during the period. SCW Capital Management LP bought a new position in Calumet Specialty Products Partners, L.P in the fourth quarter worth approximately $2,829,000. Windsor Group LTD raised its position in Calumet Specialty Products Partners, L.P by 1.2% in the fourth quarter. Windsor Group LTD now owns 455,429 shares of the oil and gas company’s stock worth $1,006,000 after acquiring an additional 5,208 shares during the period. Finally, Wells Fargo & Company MN raised its position in Calumet Specialty Products Partners, L.P by 4.4% in the third quarter. Wells Fargo & Company MN now owns 375,748 shares of the oil and gas company’s stock worth $2,405,000 after acquiring an additional 15,766 shares during the period. Institutional investors own 16.58% of the company’s stock.

Calumet Specialty Products Partners, L.P Company Profile

Calumet Specialty Products Partners, L.P. produces and sells specialty hydrocarbon products in North America and internationally. It operates in two segments, Specialty Products and Fuel Products. The Specialty Products segment offers various lubricating oils, white mineral oils, solvents, petrolatums, waxes, synthetic lubricants, and other products which are used primarily as raw material components for basic automotive, industrial, and consumer goods.

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