TD Cowen Increases Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target to $27.00

Calumet Specialty Products Partners (NASDAQ:CLMT) had its price target increased by research analysts at TD Cowen from $22.00 to $27.00 in a research note issued to investors on Thursday, Briefing.com reports. The firm presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price target suggests a potential upside of 23.12% from the company’s previous close.

CLMT has been the topic of several other research reports. The Goldman Sachs Group dropped their price objective on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, October 7th. Finally, StockNews.com began coverage on Calumet Specialty Products Partners in a research note on Tuesday. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Calumet Specialty Products Partners has a consensus rating of “Moderate Buy” and an average target price of $22.33.

Calumet Specialty Products Partners Stock Performance

CLMT opened at $21.93 on Thursday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -313.29 and a beta of 1.92. The stock’s 50 day moving average price is $17.98 and its 200-day moving average price is $16.28. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $21.99.

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

Institutional Trading of Calumet Specialty Products Partners

Hedge funds have recently bought and sold shares of the stock. Raymond James & Associates lifted its holdings 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 buying an additional 67,689 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Calumet Specialty Products Partners during the 1st quarter valued at $493,000. Wasserstein Debt Opportunities Management L.P. lifted its holdings 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 purchasing an additional 193,063 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of Calumet Specialty Products Partners by 4.3% during the 1st quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock valued at $306,000 after purchasing an additional 850 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Calumet Specialty Products Partners during the 1st quarter valued at $119,000. Hedge funds and other institutional investors own 34.41% of the company’s stock.

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.