Analysts Set Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Target Price at $22.33

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) have been assigned a consensus rating of “Buy” from the four research firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $24.00.

Several equities research analysts have recently issued reports on CLMT shares. StockNews.com assumed coverage on shares of Calumet Specialty Products Partners in a research note on Wednesday. They set a “sell” rating for the company. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Thursday, October 17th. The Goldman Sachs Group decreased their price objective on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, August 5th. Wells Fargo & Company upped their price objective on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Monday. Finally, TD Cowen lifted their target price on shares of Calumet Specialty Products Partners from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th.

Calumet Specialty Products Partners Trading Down 0.6 %

Shares of NASDAQ:CLMT opened at $21.07 on Monday. The stock has a market cap of $1.69 billion, a PE ratio of -301.00 and a beta of 1.92. The stock’s fifty day simple moving average is $18.56 and its two-hundred day simple moving average is $16.45. 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 posted its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.07. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $889.17 million. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.19) EPS. On average, sell-side analysts forecast that Calumet Specialty Products Partners will post -1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CLMT. Future Financial Wealth Managment LLC purchased a new stake in Calumet Specialty Products Partners in the first quarter valued at approximately $119,000. Deuterium Capital Management LLC purchased a new stake in shares of Calumet Specialty Products Partners during the 1st quarter valued at $159,000. Wedbush Securities Inc. bought a new stake in shares of Calumet Specialty Products Partners during the 2nd quarter worth $169,000. Mcintyre Freedman & Flynn Investment Advisers Inc. bought a new stake in shares of Calumet Specialty Products Partners during the 1st quarter worth $171,000. Finally, Sapient Capital LLC grew its position in Calumet Specialty Products Partners by 9.5% in the second quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock worth $185,000 after acquiring an additional 1,000 shares in the last quarter. 34.41% of the stock is owned by institutional investors.

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.