Calumet Specialty Products Partners (NASDAQ:CLMT) Stock Rating Reaffirmed by HC Wainwright

Calumet Specialty Products Partners (NASDAQ:CLMT)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report issued on Monday, Benzinga reports. They currently have a $25.00 price objective on the oil and gas company’s stock. HC Wainwright’s target price would suggest a potential upside of 54.32% from the company’s previous close.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group reduced their price target on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a research report on Monday. They set a “hold” rating on the stock.

Calumet Specialty Products Partners Trading Up 5.4 %

Shares of CLMT opened at $16.20 on Monday. Calumet Specialty Products Partners has a 12 month low of $11.91 and a 12 month high of $19.91. The firm’s 50 day moving average is $15.38 and its 200-day moving average is $15.94. The stock has a market capitalization of $1.30 billion, a PE ratio of 20.51 and a beta of 1.76.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.40). The firm had revenue of $976.50 million for the quarter, compared to the consensus estimate of $856.71 million. During the same quarter in the previous year, the company earned ($0.21) earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts predict that Calumet Specialty Products Partners will post -0.52 earnings per share for the current fiscal year.

Institutional Trading of Calumet Specialty Products Partners

Several large investors have recently made changes to their positions in CLMT. Wasserstein Debt Opportunities Management L.P. acquired a new stake in Calumet Specialty Products Partners in the fourth quarter valued at approximately $119,698,000. Raymond James & Associates boosted its position in Calumet Specialty Products Partners by 11.0% in the first quarter. Raymond James & Associates now owns 504,368 shares of the oil and gas company’s stock valued at $7,495,000 after buying an additional 50,008 shares in the last quarter. Grizzlyrock Capital LLC acquired a new stake in Calumet Specialty Products Partners in the fourth quarter valued at approximately $8,909,000. Corient Private Wealth LLC acquired a new stake in Calumet Specialty Products Partners in the fourth quarter valued at approximately $8,312,000. Finally, Barclays PLC boosted its position in Calumet Specialty Products Partners by 38.1% in the third quarter. Barclays PLC now owns 200,870 shares of the oil and gas company’s stock valued at $3,837,000 after buying an additional 55,370 shares in the last quarter. Institutional investors and hedge funds own 34.41% of the company’s stock.

Calumet Specialty Products Partners Company Profile

Calumet Specialty Products Partners, L.P. 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; Performance brands; Montana/Renewables; and Corporate segments.