Calumet Specialty Products Partners’ (CLMT) Buy Rating Reaffirmed at HC Wainwright

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

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

Calumet Specialty Products Partners Price Performance

Shares of Calumet Specialty Products Partners stock opened at $16.20 on Monday. Calumet Specialty Products Partners has a 1 year low of $11.91 and a 1 year high of $19.91. The firm’s 50-day moving average is $15.38 and its two-hundred day moving average is $15.94. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 20.51 and a beta of 1.76.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.40). The business had revenue of $976.50 million for the quarter, compared to the consensus estimate of $856.71 million. During the same quarter last year, the firm posted ($0.21) EPS. Calumet Specialty Products Partners’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities analysts expect that Calumet Specialty Products Partners will post -0.52 earnings per share for the current year.

Institutional Trading of Calumet Specialty Products Partners

Several hedge funds have recently modified their holdings of the company. Wasserstein Debt Opportunities Management L.P. purchased a new stake in shares of Calumet Specialty Products Partners during the fourth quarter valued at about $119,698,000. Raymond James & Associates lifted its position in shares of Calumet Specialty Products Partners by 11.0% during 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 during the last quarter. Grizzlyrock Capital LLC purchased a new stake in shares of Calumet Specialty Products Partners during the fourth quarter valued at about $8,909,000. Corient Private Wealth LLC purchased a new position in shares of Calumet Specialty Products Partners in the 4th quarter valued at approximately $8,312,000. Finally, Barclays PLC raised its position in shares of Calumet Specialty Products Partners by 38.1% in the 3rd quarter. Barclays PLC now owns 200,870 shares of the oil and gas company’s stock valued at $3,837,000 after purchasing an additional 55,370 shares during the last quarter. 34.41% of the stock is owned by hedge funds and other institutional investors.

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.