HC Wainwright Increases Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target to $33.00

Calumet Specialty Products Partners (NASDAQ:CLMT) had its price objective raised by equities researchers at HC Wainwright from $25.00 to $33.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. HC Wainwright’s target price would suggest a potential upside of 74.05% from the company’s previous close.

Several other analysts have also recently commented on the stock. StockNews.com upgraded shares of Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. Wells Fargo & Company increased their target price on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, TD Cowen lowered their price target on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

Calumet Specialty Products Partners Price Performance

CLMT stock opened at $18.96 on Monday. The company’s 50 day simple moving average is $21.42 and its 200-day simple moving average is $18.75. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $25.29. The firm has a market capitalization of $1.63 billion, a P/E ratio of -6.87 and a beta of 1.90.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $888.36 million. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. Sell-side analysts predict that Calumet Specialty Products Partners will post -2.87 EPS for the current fiscal year.

Insider Activity at Calumet Specialty Products Partners

In other news, Director Jennifer Straumins sold 100,000 shares of Calumet Specialty Products Partners stock in a transaction that occurred on 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 transaction, the director now owns 1,388,529 shares of the company’s stock, valued at $28,589,812.11. This trade represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.91% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CLMT. Wedbush Securities Inc. acquired a new stake in shares of Calumet Specialty Products Partners in the second quarter valued at about $169,000. Founders Financial Alliance LLC grew its holdings in 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 valued at $777,000 after buying an additional 3,750 shares during the last quarter. DRW Securities LLC acquired a new stake in Calumet Specialty Products Partners in the 2nd quarter valued at approximately $898,000. Finally, Creative Planning increased its position in Calumet Specialty Products Partners by 46.4% in the 2nd quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after buying an additional 19,800 shares during the period. Institutional investors own 34.41% of the company’s stock.

Calumet Specialty Products Partners Company Profile

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.