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

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

CLMT has been the subject of a number of other research reports. 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. TD Cowen raised their price target on Calumet Specialty Products Partners from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday. Finally, StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a research note on Tuesday, October 15th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Calumet Specialty Products Partners has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Calumet Specialty Products Partners Stock Performance

NASDAQ:CLMT opened at $20.06 on Thursday. Calumet Specialty Products Partners has a fifty-two week low of $9.97 and a fifty-two week high of $25.29. The company has a 50 day moving average price of $18.31 and a 200 day moving average price of $16.36. The stock has a market capitalization of $1.61 billion, a P/E ratio of -286.57 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.07. The firm 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 earned ($0.19) earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Research analysts forecast that Calumet Specialty Products Partners will post -1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new position in shares of Calumet Specialty Products Partners during the first quarter worth about $119,000. Wedbush Securities Inc. purchased a new stake in Calumet Specialty Products Partners in the 2nd quarter valued at approximately $169,000. Deuterium Capital Management LLC acquired a new position in Calumet Specialty Products Partners during the 1st quarter worth approximately $159,000. Mcintyre Freedman & Flynn Investment Advisers Inc. purchased a new position in shares of Calumet Specialty Products Partners during the 1st quarter worth approximately $171,000. Finally, Sapient Capital LLC lifted its holdings in shares of Calumet Specialty Products Partners by 9.5% in the 2nd quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock valued at $185,000 after buying an additional 1,000 shares during the period. 34.41% of the stock is currently owned by institutional investors and hedge funds.

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.