Analysts Set Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Price Target at $22.33

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) has earned an average rating of “Buy” from the four ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $24.00.

Several research analysts have recently issued reports on CLMT shares. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a research note on Thursday, October 17th. TD Cowen raised their price target on shares of Calumet Specialty Products Partners from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company lifted their price target on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com started coverage on Calumet Specialty Products Partners in a report on Wednesday. They issued a “sell” rating for the company. Finally, The Goldman Sachs Group cut their target price on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, August 5th.

Hedge Funds Weigh In On Calumet Specialty Products Partners

A number of institutional investors and hedge funds have recently modified their holdings of CLMT. J.W. Cole Advisors Inc. increased its holdings in shares of Calumet Specialty Products Partners by 4.3% during the first quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock valued at $306,000 after acquiring an additional 850 shares in the last quarter. Sapient Capital LLC raised its holdings in 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 worth $185,000 after buying an additional 1,000 shares during the last quarter. FAS Wealth Partners Inc. lifted its stake in shares of Calumet Specialty Products Partners by 4.5% in the second quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock valued at $869,000 after buying an additional 2,308 shares in the last quarter. Founders Financial Alliance LLC grew its holdings in shares of Calumet Specialty Products Partners by 8.4% during the second 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. Finally, ARS Investment Partners LLC increased its position in shares of Calumet Specialty Products Partners by 16.7% during the second quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock worth $506,000 after acquiring an additional 4,500 shares in the last quarter. 34.41% of the stock is currently owned by institutional investors.

Calumet Specialty Products Partners Trading Down 0.6 %

CLMT opened at $21.07 on Monday. The company’s 50 day moving average is $18.56 and its 200-day moving average is $16.45. The company has a market cap of $1.69 billion, a P/E ratio of -301.00 and a beta of 1.92. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly 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 company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $889.17 million. During the same quarter last year, the company posted ($0.19) earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts forecast that Calumet Specialty Products Partners will post -1.97 EPS for the current year.

Calumet Specialty Products Partners Company Profile

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.