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

HC Wainwright reissued their buy rating on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a report issued on Monday,Benzinga reports. The brokerage currently has a $25.00 price objective on the oil and gas company’s stock. HC Wainwright also issued estimates for Calumet Specialty Products Partners’ Q4 2024 earnings at ($1.13) EPS, FY2024 earnings at ($3.02) EPS, FY2025 earnings at $0.28 EPS, FY2026 earnings at $1.86 EPS, FY2027 earnings at $2.40 EPS and FY2028 earnings at $2.68 EPS.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company lifted their price target 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, October 21st. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a research note on Wednesday, October 23rd. They set a “sell” rating on the stock. TD Cowen increased their price target 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. Finally, The Goldman Sachs Group lowered their price objective on shares of 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. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.75.

Calumet Specialty Products Partners Trading Up 3.0 %

Shares of NASDAQ:CLMT opened at $20.49 on Monday. The company has a 50-day moving average price of $19.50 and a 200-day moving average price of $17.09. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -7.42 and a beta of 1.90. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $888.36 million. During the same period last year, the firm earned $0.03 earnings per share. Calumet Specialty Products Partners’s revenue was down 4.3% compared to the same quarter last year. As a group, research analysts forecast that Calumet Specialty Products Partners will post -2.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $20.59, for a total value of $2,059,000.00. Following the sale, the director now owns 1,388,529 shares in the company, valued at approximately $28,589,812.11. This represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.91% of the stock is owned by company insiders.

Institutional Trading of Calumet Specialty Products Partners

A number of hedge funds have recently made changes to their positions in the stock. Wedbush Securities Inc. bought a new position in Calumet Specialty Products Partners during the 2nd quarter valued at approximately $169,000. Sapient Capital LLC increased its holdings in shares of Calumet Specialty Products Partners by 9.5% during the second quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock valued at $185,000 after acquiring an additional 1,000 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Calumet Specialty Products Partners in the 1st quarter worth about $493,000. ARS Investment Partners LLC boosted its stake in Calumet Specialty Products Partners by 16.7% in the 2nd quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock worth $506,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Founders Financial Alliance LLC grew its position in Calumet Specialty Products Partners by 8.4% during the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock valued at $777,000 after purchasing an additional 3,750 shares during the last quarter. 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.