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

Calumet Specialty Products Partners (NASDAQ:CLMT) had its target price lifted by TD Cowen from $22.00 to $27.00 in a report released on Thursday morning, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the oil and gas company’s stock.

Several other equities analysts also recently commented on CLMT. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, October 7th. StockNews.com assumed coverage on shares of Calumet Specialty Products Partners in a research note on Tuesday, October 15th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group dropped 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 hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Calumet Specialty Products Partners has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Calumet Specialty Products Partners Stock Performance

Shares of CLMT stock opened at $20.06 on Thursday. The stock has a fifty day simple moving average of $18.31 and a two-hundred day simple moving average of $16.36. The firm has a market capitalization of $1.61 billion, a PE ratio of -286.57 and a beta of 1.92. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released 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 business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $889.17 million. During the same quarter in the prior year, the business posted ($0.19) EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that Calumet Specialty Products Partners will post -1.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

A number of hedge funds have recently bought and sold shares of CLMT. Founders Financial Alliance LLC grew its stake in shares of Calumet Specialty Products Partners by 8.4% in the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock worth $777,000 after buying an additional 3,750 shares in the last quarter. Creative Planning grew its position in Calumet Specialty Products Partners by 46.4% in the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after acquiring an additional 19,800 shares in the last quarter. DRW Securities LLC bought a new stake in Calumet Specialty Products Partners during the second quarter worth approximately $898,000. Wedbush Securities Inc. purchased a new stake in Calumet Specialty Products Partners during the second quarter valued at approximately $169,000. Finally, Wasserstein Debt Opportunities Management L.P. lifted its stake in shares of Calumet Specialty Products Partners by 2.9% in 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. 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.