Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) Downgraded by BidaskClub

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday, June 5th, BidAskClub reports.

Several other research firms also recently commented on CLMT. Zacks Investment Research upgraded shares of Calumet Specialty Products Partners, L.P from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a research report on Monday, March 25th. ValuEngine downgraded shares of Calumet Specialty Products Partners, L.P from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st.

CLMT stock traded down $0.14 during mid-day trading on Wednesday, hitting $4.19. The stock had a trading volume of 137,900 shares, compared to its average volume of 231,817. The stock has a market capitalization of $333.12 million, a price-to-earnings ratio of 13.97 and a beta of 1.86. The company has a debt-to-equity ratio of 22.97, a current ratio of 1.33 and a quick ratio of 0.82. The stock’s fifty day moving average is $4.28. Calumet Specialty Products Partners, L.P has a 52 week low of $1.99 and a 52 week high of $7.95.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, May 10th. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.30. Calumet Specialty Products Partners, L.P had a negative net margin of 0.93% and a positive return on equity of 73.33%. The company had revenue of $851.30 million for the quarter, compared to analyst estimates of $658.18 million. As a group, analysts anticipate that Calumet Specialty Products Partners, L.P will post 0.38 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Wedbush Securities Inc. bought a new stake in shares of Calumet Specialty Products Partners, L.P in the 4th quarter worth $77,000. Windsor Group LTD boosted its holdings in shares of Calumet Specialty Products Partners, L.P by 3.8% in the 1st quarter. Windsor Group LTD now owns 472,570 shares of the oil and gas company’s stock worth $1,682,000 after buying an additional 17,141 shares during the last quarter. Knott David M boosted its holdings in shares of Calumet Specialty Products Partners, L.P by 5.2% in the 4th quarter. Knott David M now owns 1,534,031 shares of the oil and gas company’s stock worth $3,390,000 after buying an additional 76,300 shares during the last quarter. SCW Capital Management LP purchased a new position in shares of Calumet Specialty Products Partners, L.P in the 4th quarter worth about $2,829,000. Finally, Wiley BROS. Aintree Capital LLC purchased a new position in shares of Calumet Specialty Products Partners, L.P in the 4th quarter worth about $56,000. Hedge funds and other institutional investors own 14.56% of the company’s stock.

About Calumet Specialty Products Partners, L.P

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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