Calumet Specialty Products Partners’ (CLMT) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research note published on Thursday, Benzinga reports. They currently have a $25.00 target price on the oil and gas company’s stock.

Other equities research analysts have also issued reports about the stock. TD Cowen boosted their price objective on shares of Calumet Specialty Products Partners from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group reduced their price target on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, StockNews.com assumed coverage on shares of Calumet Specialty Products Partners in a research note on Tuesday, October 15th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Calumet Specialty Products Partners Trading Down 8.3 %

Shares of Calumet Specialty Products Partners stock opened at $20.06 on Thursday. The company has a 50-day moving average of $18.31 and a two-hundred day moving average of $16.36. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $25.29. The stock has a market cap of $1.61 billion, a PE ratio of -286.57 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $889.17 million. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) earnings per share. On average, sell-side analysts forecast that Calumet Specialty Products Partners will post -1.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLMT. Future Financial Wealth Managment LLC purchased a new stake in shares of Calumet Specialty Products Partners during the first quarter worth about $119,000. Deuterium Capital Management LLC acquired a new stake in Calumet Specialty Products Partners during the first quarter worth approximately $159,000. Wedbush Securities Inc. purchased a new stake in Calumet Specialty Products Partners in the 2nd quarter worth approximately $169,000. Mcintyre Freedman & Flynn Investment Advisers Inc. acquired a new position in Calumet Specialty Products Partners in the 1st quarter valued at $171,000. Finally, Sapient Capital LLC lifted its stake in shares of Calumet Specialty Products Partners by 9.5% during the 2nd quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock worth $185,000 after purchasing an additional 1,000 shares during the period. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

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.