BidaskClub Lowers Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) to Sell

BidaskClub lowered shares of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) from a hold rating to a sell rating in a research note published on Tuesday, BidAskClub reports.

A number of other equities research analysts have also recently weighed in on the company. ValuEngine cut Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Zacks Investment Research lowered HEXO from a hold rating to a sell rating in a report on Wednesday, May 15th.

NASDAQ CLMT opened at $4.40 on Tuesday. Calumet Specialty Products Partners, L.P has a 52 week low of $1.99 and a 52 week high of $7.95. The company has a debt-to-equity ratio of 22.97, a quick ratio of 0.82 and a current ratio of 1.33. The business’s fifty day moving average is $4.28. The stock has a market cap of $340.87 million, a price-to-earnings ratio of 14.67 and a beta of 1.76.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last posted its earnings results on Friday, May 10th. The oil and gas company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.30. Calumet Specialty Products Partners, L.P had a positive return on equity of 73.33% and a negative net margin of 0.93%. The firm had revenue of $851.30 million during the quarter, compared to analysts’ expectations of $658.18 million. As a group, equities research analysts expect that Calumet Specialty Products Partners, L.P will post 0.38 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in CLMT. Stifel Financial Corp acquired a new position in Calumet Specialty Products Partners, L.P in the fourth quarter valued at $34,000. Intrinsic Edge Capital Management LLC acquired a new position in Calumet Specialty Products Partners, L.P in the fourth quarter valued at $553,000. Windsor Group LTD lifted its holdings in Calumet Specialty Products Partners, L.P by 3.8% in the first quarter. Windsor Group LTD now owns 472,570 shares of the oil and gas company’s stock valued at $1,682,000 after buying an additional 17,141 shares during the period. Adams Asset Advisors LLC lifted its holdings in Calumet Specialty Products Partners, L.P by 11.0% in the first quarter. Adams Asset Advisors LLC now owns 3,527,128 shares of the oil and gas company’s stock valued at $12,556,000 after buying an additional 349,100 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Calumet Specialty Products Partners, L.P in the first quarter valued at $47,000. 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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