HC Wainwright Reiterates “Buy” Rating for Calumet Specialty Products Partners (NASDAQ:CLMT)

HC Wainwright reissued their buy rating on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a report released on Monday morning, Benzinga reports. HC Wainwright currently has a $25.00 target price on the oil and gas company’s stock. HC Wainwright also issued estimates for Calumet Specialty Products Partners’ FY2026 earnings at $1.89 EPS, FY2027 earnings at $2.43 EPS and FY2028 earnings at $2.72 EPS.

Other analysts have also issued research reports about the stock. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a research report on Monday. They issued a hold rating on the stock. TD Cowen lowered their price objective on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a buy rating on the stock in a research report on Monday. Finally, 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 on the stock in a research report on Monday, August 5th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Calumet Specialty Products Partners has an average rating of Moderate Buy and a consensus target price of $19.33.

Calumet Specialty Products Partners Price Performance

CLMT opened at $15.95 on Monday. The company’s 50-day moving average is $14.97 and its 200 day moving average is $15.40. Calumet Specialty Products Partners has a fifty-two week low of $9.97 and a fifty-two week high of $19.91. The firm has a market capitalization of $1.28 billion, a P/E ratio of -227.86 and a beta of 1.93.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $889.17 million. During the same period in the previous year, the business earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts expect that Calumet Specialty Products Partners will post -1.9 earnings per share for the current year.

Institutional Trading of Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently modified their holdings of CLMT. Wasserstein Debt Opportunities Management L.P. bought a new stake in shares of Calumet Specialty Products Partners in the fourth quarter valued at approximately $119,698,000. Grizzlyrock Capital LLC bought a new stake in shares of Calumet Specialty Products Partners in the fourth quarter valued at approximately $8,909,000. Corient Private Wealth LLC bought a new stake in shares of Calumet Specialty Products Partners in the fourth quarter valued at approximately $8,312,000. Raymond James & Associates raised its position in shares of 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 purchasing an additional 67,689 shares during the period. Finally, DRW Securities LLC bought a new stake in shares of Calumet Specialty Products Partners in the second quarter valued at approximately $898,000. Institutional investors own 34.41% of the company’s stock.

About Calumet Specialty Products Partners

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.