Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)‘s stock had its “hold” rating reaffirmed by Cowen and Company in a note issued to investors on Tuesday. They currently have a $5.00 target price on the oil and gas company’s stock. Cowen and Company’s target price points to a potential downside of 38.27% from the company’s current price.

Several other equities analysts have also issued reports on CLMT. ValuEngine upgraded Calumet Specialty Products Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Wells Fargo & Company boosted 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. Zacks Investment Research upgraded Calumet Specialty Products Partners, L.P. from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Friday, August 18th. BidaskClub cut Calumet Specialty Products Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Janney Montgomery Scott upgraded Calumet Specialty Products Partners, L.P. from a “neutral” rating to a “buy” rating and boosted their target price for the company from $6.00 to $8.50 in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $6.00.

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) traded down 0.62% during trading on Tuesday, reaching $8.05. 102,070 shares of the company traded hands. The stock’s market cap is $617.67 million. The stock’s 50 day moving average price is $8.08 and its 200-day moving average price is $5.42. Calumet Specialty Products Partners, L.P. has a 12 month low of $7.90 and a 12 month high of $8.08.

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, August 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.58. Calumet Specialty Products Partners, L.P. had a negative return on equity of 48.17% and a negative net margin of 2.81%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $841.00 million. On average, equities research analysts expect that Calumet Specialty Products Partners, L.P. will post $0.29 EPS for the current fiscal year.

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In related news, CFO David West Griffin acquired 8,100 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were bought at an average price of $5.19 per share, for a total transaction of $42,039.00. Following the purchase, the chief financial officer now directly owns 49,252 shares in the company, valued at approximately $255,617.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 29,636 shares of company stock worth $153,920 in the last 90 days. Company insiders own 4.75% of the company’s stock.

Several institutional investors have recently made changes to their positions in CLMT. Wells Fargo & Company MN raised its stake in shares of Calumet Specialty Products Partners, L.P. by 2.5% during the 1st quarter. Wells Fargo & Company MN now owns 461,750 shares of the oil and gas company’s stock worth $1,754,000 after purchasing an additional 11,265 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Calumet Specialty Products Partners, L.P. by 5.0% during the 1st quarter. Fifth Third Bancorp now owns 31,800 shares of the oil and gas company’s stock worth $121,000 after purchasing an additional 1,500 shares in the last quarter. Morgan Stanley raised its stake in shares of Calumet Specialty Products Partners, L.P. by 13.5% during the 1st quarter. Morgan Stanley now owns 704,438 shares of the oil and gas company’s stock worth $2,677,000 after purchasing an additional 83,995 shares in the last quarter. Adams Asset Advisors LLC raised its stake in shares of Calumet Specialty Products Partners, L.P. by 11.9% during the 2nd quarter. Adams Asset Advisors LLC now owns 705,332 shares of the oil and gas company’s stock worth $2,998,000 after purchasing an additional 74,732 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Calumet Specialty Products Partners, L.P. by 350.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 36,000 shares of the oil and gas company’s stock worth $154,000 after purchasing an additional 28,000 shares in the last quarter. Institutional investors own 9.70% of the company’s stock.

Calumet Specialty Products Partners, L.P. Company Profile

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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