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

Calumet Specialty Products Partners (NASDAQ:CLMT) had its price target hoisted by TD Cowen from $22.00 to $27.00 in a research note published on Thursday, MarketBeat.com reports. They currently have a buy rating on the oil and gas company’s stock.

A number of other analysts have also weighed in on CLMT. The Goldman Sachs Group lowered 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 research note on Monday, August 5th. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a research note on Tuesday, October 15th. They set a “hold” rating on the stock. Finally, HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.33.

Calumet Specialty Products Partners Trading Down 8.3 %

NASDAQ CLMT opened at $20.06 on Thursday. The stock has a market cap of $1.61 billion, a PE ratio of -286.57 and a beta of 1.92. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $25.29. The company’s 50-day moving average price is $18.31 and its 200-day moving average price is $16.36.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.07. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $889.17 million. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.19) EPS. As a group, sell-side analysts forecast that Calumet Specialty Products Partners will post -1.97 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CLMT. Wasserstein Debt Opportunities Management L.P. boosted its stake in Calumet Specialty Products Partners by 2.9% in the second 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 acquiring an additional 193,063 shares in the last quarter. Raymond James & Associates raised its stake in Calumet Specialty Products Partners by 13.4% in the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock valued at $9,182,000 after buying an additional 67,689 shares during the last quarter. DRW Securities LLC acquired a new stake in Calumet Specialty Products Partners in the second quarter worth about $898,000. GSA Capital Partners LLP purchased a new stake in shares of Calumet Specialty Products Partners during the first quarter worth about $493,000. Finally, Creative Planning increased its holdings in shares of Calumet Specialty Products Partners by 46.4% during the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock valued at $1,002,000 after acquiring an additional 19,800 shares in 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.