Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) Lifted to Market Perform at Raymond James

Raymond James upgraded shares of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) from an underperform rating to a market perform rating in a research report sent to investors on Tuesday, Benzinga reports.

Several other analysts have also issued reports on the company. BidaskClub lowered Calumet Specialty Products Partners, L.P from a hold rating to a sell rating in a report on Thursday, February 6th. Zacks Investment Research lowered Calumet Specialty Products Partners, L.P from a hold rating to a sell rating in a report on Monday, January 20th. Finally, ValuEngine lowered Calumet Specialty Products Partners, L.P from a sell rating to a strong sell rating in a report on Tuesday, January 21st.

CLMT traded up $0.02 on Tuesday, hitting $4.25. 6,742 shares of the company were exchanged, compared to its average volume of 216,483. Calumet Specialty Products Partners, L.P has a 12 month low of $2.83 and a 12 month high of $5.00. The company has a market cap of $328.05 million, a PE ratio of 26.56 and a beta of 1.90. The company has a debt-to-equity ratio of 27.10, a quick ratio of 0.57 and a current ratio of 0.96. The stock’s fifty day moving average is $4.22 and its 200-day moving average is $3.87.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last released its earnings results on Tuesday, November 12th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.08. Calumet Specialty Products Partners, L.P had a return on equity of 111.36% and a net margin of 0.37%. The business had revenue of $929.60 million for the quarter, compared to analyst estimates of $751.88 million. As a group, equities research analysts expect that Calumet Specialty Products Partners, L.P will post -0.44 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its position in Calumet Specialty Products Partners, L.P by 264.5% during the fourth quarter. Bank of America Corp DE now owns 80,271 shares of the oil and gas company’s stock worth $293,000 after buying an additional 58,249 shares during the last quarter. PSI Advisors LLC acquired a new position in Calumet Specialty Products Partners, L.P during the fourth quarter worth approximately $29,000. Renaissance Technologies LLC acquired a new position in Calumet Specialty Products Partners, L.P during the fourth quarter worth approximately $51,000. Bank of Montreal Can acquired a new position in Calumet Specialty Products Partners, L.P during the fourth quarter worth approximately $602,000. Finally, Adams Asset Advisors LLC increased its position in Calumet Specialty Products Partners, L.P by 12.9% during the fourth quarter. Adams Asset Advisors LLC now owns 4,178,667 shares of the oil and gas company’s stock worth $15,252,000 after buying an additional 476,803 shares during the last quarter. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

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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