HC Wainwright Reiterates “Buy” Rating for Calumet Specialty Products Partners (NASDAQ:CLMT)

Calumet Specialty Products Partners (NASDAQ:CLMT)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $25.00 price objective on the oil and gas company’s stock. HC Wainwright’s price target indicates a potential upside of 22.97% from the stock’s previous close.

Several other research firms have also recently commented on CLMT. TD Cowen upped their price target on 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. The Goldman Sachs Group reduced their target price 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. StockNews.com assumed coverage on shares of Calumet Specialty Products Partners in a research note on Wednesday, October 23rd. They set a “sell” rating on the stock. Finally, Wells Fargo & Company increased their price target 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. One investment 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.75.

Calumet Specialty Products Partners Price Performance

Shares of NASDAQ:CLMT opened at $20.33 on Monday. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $25.29. The stock has a market cap of $1.75 billion, a P/E ratio of -7.37 and a beta of 1.90. The firm has a fifty day moving average price of $19.40 and a 200 day moving average price of $17.04.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $888.36 million. The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 earnings per share. Sell-side analysts expect that Calumet Specialty Products Partners will post -2.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wasserstein Debt Opportunities Management L.P. lifted its position in shares of Calumet Specialty Products Partners by 2.9% during 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 during the period. Raymond James & Associates boosted its position in Calumet Specialty Products Partners by 13.4% during the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after purchasing an additional 67,689 shares in the last quarter. DRW Securities LLC acquired a new stake in Calumet Specialty Products Partners in the second quarter valued at $898,000. GSA Capital Partners LLP purchased a new position in shares of Calumet Specialty Products Partners in the first quarter valued at $493,000. Finally, Creative Planning raised its stake in shares of 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. 34.41% of the stock is currently 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.