Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target Cut to $26.00 by Analysts at TD Cowen

Calumet Specialty Products Partners (NASDAQ:CLMT) had its target price reduced by equities research analysts at TD Cowen from $27.00 to $26.00 in a research report issued on Monday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price objective points to a potential upside of 27.89% from the stock’s previous close.

A number of other brokerages have also commented on CLMT. StockNews.com assumed coverage on Calumet Specialty Products Partners in a research note on Wednesday, October 23rd. They issued a “sell” rating for the company. Wells Fargo & Company raised their price objective on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday. Finally, The Goldman Sachs Group cut their price target on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Calumet Specialty Products Partners Price Performance

NASDAQ:CLMT opened at $20.33 on Monday. The stock has a market cap of $1.75 billion, a P/E ratio of -7.37 and a beta of 1.90. The company has a fifty day moving average price of $19.40 and a 200 day moving average price of $17.04. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $888.36 million. During the same period in the previous year, the firm posted $0.03 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Calumet Specialty Products Partners will post -2.17 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Founders Financial Alliance LLC raised its position in Calumet Specialty Products Partners by 8.4% in the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock valued at $777,000 after purchasing an additional 3,750 shares during the last quarter. Creative Planning raised its holdings in shares of Calumet Specialty Products Partners by 46.4% in the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock valued at $1,002,000 after buying an additional 19,800 shares during the last quarter. DRW Securities LLC acquired a new position in Calumet Specialty Products Partners during the 2nd quarter worth about $898,000. Wedbush Securities Inc. bought a new stake in Calumet Specialty Products Partners during the 2nd quarter worth about $169,000. Finally, Wasserstein Debt Opportunities Management L.P. increased its position in Calumet Specialty Products Partners by 2.9% in the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock valued at $110,606,000 after acquiring an additional 193,063 shares in the last quarter. 34.41% of the stock is owned by institutional investors and hedge funds.

About Calumet Specialty Products Partners

Calumet, Inc manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Montana/Renewables; and Performance brands segments.