Calumet Specialty Products Partners’ (CLMT) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research report released on Thursday, Benzinga reports. HC Wainwright currently has a $25.00 price target on the oil and gas company’s stock.

A number of other research firms have also weighed in on CLMT. StockNews.com assumed coverage on shares of Calumet Specialty Products Partners in a report on Tuesday. They set a “hold” rating for the company. The Goldman Sachs Group lowered their target price on shares of 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. Finally, TD Cowen lifted their target price on Calumet Specialty Products Partners from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Calumet Specialty Products Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.

Calumet Specialty Products Partners Trading Down 0.3 %

CLMT stock opened at $21.87 on Thursday. The company’s 50 day moving average is $18.19 and its 200 day moving average is $16.32. 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 $1.76 billion, a price-to-earnings ratio of -312.43 and a beta of 1.92.

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

Institutional Trading of Calumet Specialty Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in CLMT. Wasserstein Debt Opportunities Management L.P. raised its holdings 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 acquiring an additional 193,063 shares in the last quarter. Raymond James & Associates raised its stake in Calumet Specialty Products Partners by 13.4% in the 2nd quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after acquiring an additional 67,689 shares during the last quarter. Creative Planning lifted its stake 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 valued at $1,002,000 after acquiring an additional 19,800 shares during the period. DRW Securities LLC acquired a new position in shares of Calumet Specialty Products Partners in the 2nd quarter valued at about $898,000. Finally, FAS Wealth Partners Inc. lifted its stake in shares of Calumet Specialty Products Partners by 4.5% in the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock valued at $869,000 after purchasing an additional 2,308 shares during the period. 34.41% of the stock is currently 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.