Wells Fargo & Company Increases Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target to $29.00

Calumet Specialty Products Partners (NASDAQ:CLMT) had its price objective boosted by research analysts at Wells Fargo & Company from $25.00 to $29.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 36.79% from the company’s current price.

A number of other analysts have also recently issued reports on CLMT. The Goldman Sachs Group cut 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. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Thursday, October 17th. StockNews.com began coverage on Calumet Specialty Products Partners in a research report on Tuesday, October 15th. They issued a “hold” rating on the stock. Finally, TD Cowen lifted their price target on Calumet Specialty Products Partners from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Calumet Specialty Products Partners Stock Up 0.2 %

Shares of NASDAQ CLMT opened at $21.20 on Monday. The business’s 50 day moving average price is $18.45 and its two-hundred day moving average price is $16.41. The company has a market cap of $1.70 billion, a PE ratio of -302.86 and a beta of 1.92. Calumet Specialty Products Partners has a twelve month low of $9.97 and a twelve month high of $25.29.

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

Institutional Inflows and Outflows

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