Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) Cut to “Sell” at BidaskClub

BidaskClub lowered shares of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) from a hold rating to a sell rating in a research report released on Wednesday, March 27th, BidAskClub reports.

Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Calumet Specialty Products Partners, L.P from a hold rating to a buy rating and set a $4.25 target price for the company in a research note on Monday, March 25th. Cowen set a $5.00 price objective on Calumet Specialty Products Partners, L.P and gave the stock a hold rating in a research report on Wednesday, November 28th. Finally, ValuEngine upgraded Calumet Specialty Products Partners, L.P from a sell rating to a hold rating in a research report on Monday, February 4th.

Shares of NASDAQ CLMT traded up $0.03 during mid-day trading on Wednesday, reaching $3.63. 109,359 shares of the company traded hands, compared to its average volume of 236,034. The company has a debt-to-equity ratio of 30.26, a quick ratio of 0.93 and a current ratio of 1.61. The firm has a market cap of $281.21 million, a price-to-earnings ratio of 12.10 and a beta of 2.36. Calumet Specialty Products Partners, L.P has a fifty-two week low of $1.99 and a fifty-two week high of $8.75.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last announced its earnings results on Thursday, March 7th. The oil and gas company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.09. Calumet Specialty Products Partners, L.P had a positive return on equity of 65.97% and a negative net margin of 1.56%. The firm had revenue of $848.00 million during the quarter, compared to the consensus estimate of $716.03 million. As a group, equities research analysts forecast that Calumet Specialty Products Partners, L.P will post -0.34 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in CLMT. Wells Fargo & Company MN lifted its position in shares of Calumet Specialty Products Partners, L.P by 4.4% in the 3rd 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. JPMorgan Chase & Co. lifted its position in shares of Calumet Specialty Products Partners, L.P by 22.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 100,134 shares of the oil and gas company’s stock worth $641,000 after buying an additional 18,134 shares during the period. Credit Suisse AG lifted its position in shares of Calumet Specialty Products Partners, L.P by 485.6% during the 3rd quarter. Credit Suisse AG now owns 79,121 shares of the oil and gas company’s stock worth $507,000 after buying an additional 65,609 shares during the period. Adams Asset Advisors LLC lifted its position in shares of Calumet Specialty Products Partners, L.P by 91.3% during the 4th quarter. Adams Asset Advisors LLC now owns 3,178,028 shares of the oil and gas company’s stock worth $7,023,000 after buying an additional 1,517,148 shares during the period. Finally, Windsor Group LTD lifted its position in shares of Calumet Specialty Products Partners, L.P by 1.2% during the 4th quarter. Windsor Group LTD now owns 455,429 shares of the oil and gas company’s stock worth $1,006,000 after buying an additional 5,208 shares during the period. Institutional investors own 15.13% 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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