Calumet Specialty Products Partners (NASDAQ:CLMT) PT Raised to $27.00

Calumet Specialty Products Partners (NASDAQ:CLMT) had its price target upped by equities researchers at TD Cowen from $22.00 to $27.00 in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s target price suggests a potential upside of 34.60% from the company’s previous close.

A number of other research firms have also recently commented on CLMT. The Goldman Sachs Group decreased their price target on 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. StockNews.com initiated coverage on Calumet Specialty Products Partners in a report on Tuesday. They issued a “hold” rating on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.

Calumet Specialty Products Partners Price Performance

Shares of CLMT opened at $20.06 on Thursday. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -286.57 and a beta of 1.92. The business’s 50 day simple moving average is $18.31 and its 200-day simple moving average is $16.35. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 year high of $25.29.

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

Hedge Funds Weigh In On Calumet Specialty Products Partners

A number of institutional investors have recently added to or reduced their stakes in the stock. Wasserstein Debt Opportunities Management L.P. grew its stake in shares of Calumet Specialty Products Partners by 2.9% in the second 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 buying an additional 193,063 shares in the last quarter. Raymond James & Associates lifted its holdings in Calumet Specialty Products Partners by 13.4% during the 2nd quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after buying an additional 67,689 shares during the last quarter. Creative Planning lifted its holdings in Calumet Specialty Products Partners by 46.4% during the 2nd quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after buying an additional 19,800 shares during the last quarter. DRW Securities LLC purchased a new stake in Calumet Specialty Products Partners during the 2nd quarter worth about $898,000. Finally, FAS Wealth Partners Inc. lifted its holdings in Calumet Specialty Products Partners by 4.5% during the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock worth $869,000 after buying an additional 2,308 shares during the last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Calumet Specialty Products Partners Company Profile

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.