Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $7.50 price target on the oil and gas company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 16.28% from the stock’s current price.

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. “

CLMT has been the subject of a number of other reports. BidaskClub raised Calumet Specialty Products Partners, L.P from a “hold” rating to a “buy” rating in a report on Saturday, July 21st. ValuEngine cut Calumet Specialty Products Partners, L.P from a “hold” rating to a “sell” rating in a report on Monday, August 20th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Calumet Specialty Products Partners, L.P currently has an average rating of “Hold” and an average price target of $7.50.

Calumet Specialty Products Partners, L.P stock traded down $0.20 during trading hours on Thursday, hitting $6.45. The stock had a trading volume of 106,200 shares, compared to its average volume of 277,544. The company has a quick ratio of 0.75, a current ratio of 1.45 and a debt-to-equity ratio of 29.68. The stock has a market cap of $493.43 million, a price-to-earnings ratio of -11.52 and a beta of 1.28. Calumet Specialty Products Partners, L.P has a fifty-two week low of $6.10 and a fifty-two week high of $9.95.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last issued its earnings results on Thursday, August 9th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.01. Calumet Specialty Products Partners, L.P had a negative return on equity of 45.02% and a negative net margin of 3.94%. The business had revenue of $945.50 million during the quarter, compared to analysts’ expectations of $829.99 million. analysts expect that Calumet Specialty Products Partners, L.P will post -0.17 earnings per share for the current fiscal year.

In other Calumet Specialty Products Partners, L.P news, CFO David West Griffin purchased 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were acquired at an average cost of $6.57 per share, for a total transaction of $72,270.00. Following the transaction, the chief financial officer now directly owns 65,405 shares in the company, valued at $429,710.85. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have purchased 41,205 shares of company stock worth $269,925. 4.75% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLMT. Renaissance Technologies LLC grew its position in Calumet Specialty Products Partners, L.P by 133.9% during the 2nd quarter. Renaissance Technologies LLC now owns 472,299 shares of the oil and gas company’s stock worth $3,519,000 after acquiring an additional 270,409 shares during the last quarter. BB&T Securities LLC bought a new stake in Calumet Specialty Products Partners, L.P during the 2nd quarter worth approximately $510,000. UBS Group AG grew its position in Calumet Specialty Products Partners, L.P by 34.8% during the 1st quarter. UBS Group AG now owns 211,856 shares of the oil and gas company’s stock worth $1,494,000 after acquiring an additional 54,659 shares during the last quarter. OppenheimerFunds Inc. bought a new stake in Calumet Specialty Products Partners, L.P during the 2nd quarter worth approximately $298,000. Finally, Barnett & Company Inc. grew its position in Calumet Specialty Products Partners, L.P by 18.5% during the 2nd quarter. Barnett & Company Inc. now owns 248,300 shares of the oil and gas company’s stock worth $1,850,000 after acquiring an additional 38,800 shares during the last quarter. Institutional investors and hedge funds own 13.96% 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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