Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Western Midstream Partners, LP (WES) - free report >>
Calumet Specialty Products Partners, L.P. (CLMT) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Western Midstream Partners, LP (WES) - free report >>
Calumet Specialty Products Partners, L.P. (CLMT) - free report >>
Image: Bigstock
Strength Seen in Calumet Specialty Products Partners, L.P. (CLMT): Can Its 6.2% Jump Turn into More Strength?
Calumet Specialty Products Partners, L.P. (CLMT - Free Report) shares ended the last trading session 6.2% higher at $10.78. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 21.7% loss over the past four weeks.
Calumet Specialty Products Partners ended sharply higher on Tuesday, driven by optimism over oil prices spurred by curbs on Russia, plus a demand spike owing to the reopening of economies and a rebound in activity. The steady increase in crude prices to over $100 a barrel and robust product demand has lifted the fuel refining space and contributed to the strength in Calumet Specialty Products Partners.
This company is expected to post quarterly loss of $0.18 per share in its upcoming report, which represents a year-over-year change of +81.4%. Revenues are expected to be $1.06 billion, up 31.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Calumet Specialty Products Partners, L.P., the consensus EPS estimate for the quarter has been revised 37.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CLMT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Calumet Specialty Products Partners, L.P. is part of the Zacks Oil and Gas - Refining and Marketing - Master Limited Partnerships industry. Western Midstream (WES - Free Report) , another stock in the same industry, closed the last trading session 4.1% higher at $24.18. WES has returned -11.8% in the past month.
Western Midstream's consensus EPS estimate for the upcoming report has changed +1.5% over the past month to $0.75. Compared to the company's year-ago EPS, this represents a change of +36.4%. Western Midstream currently boasts a Zacks Rank of #1 (Strong Buy).