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

Calumet Specialty Products Partners (NASDAQ:CLMT) had its price objective increased by TD Cowen from $22.00 to $27.00 in a report published on Thursday morning, Marketbeat reports. They currently have a buy rating on the oil and gas company’s stock.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group cut their price target on shares of 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. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a research note on Tuesday, October 15th. They issued a “hold” rating for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Calumet Specialty Products Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.

Calumet Specialty Products Partners Stock Down 8.3 %

Shares of NASDAQ CLMT opened at $20.06 on Thursday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -286.57 and a beta of 1.92. Calumet Specialty Products Partners has a 52 week low of $9.97 and a 52 week high of $25.29. The firm’s fifty day moving average is $18.31 and its 200 day moving average is $16.36.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its 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 business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $889.17 million. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.19) earnings per share. Equities research analysts anticipate that Calumet Specialty Products Partners will post -1.97 earnings per share for the current year.

Institutional Trading of Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently made changes to their positions in CLMT. 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. Creative Planning lifted 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 purchasing an additional 19,800 shares in the last quarter. DRW Securities LLC purchased a new stake in shares of Calumet Specialty Products Partners during the second quarter valued at $898,000. Wedbush Securities Inc. bought a new stake in Calumet Specialty Products Partners in the 2nd quarter worth about $169,000. Finally, Wasserstein Debt Opportunities Management L.P. raised its position in Calumet Specialty Products Partners by 2.9% in the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock worth $110,606,000 after buying an additional 193,063 shares during the last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.

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.