Calumet Specialty Products Partners (NASDAQ:CLMT) Stock Price Expected to Rise, HC Wainwright Analyst Says

Calumet Specialty Products Partners (NASDAQ:CLMT) had its target price lifted by equities research analysts at HC Wainwright from $25.00 to $33.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. HC Wainwright’s price objective would suggest a potential upside of 49.59% from the stock’s previous close.

A number of other brokerages also recently weighed in on CLMT. StockNews.com raised shares of Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. Wells Fargo & Company upped their target price on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, TD Cowen dropped their price target on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Calumet Specialty Products Partners has an average rating of “Moderate Buy” and an average price target of $25.75.

Calumet Specialty Products Partners Trading Up 1.4 %

NASDAQ:CLMT traded up $0.31 during trading hours on Monday, hitting $22.06. 1,178,947 shares of the company were exchanged, compared to its average volume of 836,126. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -7.99 and a beta of 1.90. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $25.29. The company has a fifty day simple moving average of $21.40 and a 200 day simple moving average of $18.71.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $888.36 million. During the same period last year, the business earned $0.03 EPS. Calumet Specialty Products Partners’s revenue was down 4.3% compared to the same quarter last year. Equities research analysts predict that Calumet Specialty Products Partners will post -2.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $21.42, for a total transaction of $810,982.62. Following the transaction, the director now owns 1,184,589 shares in the company, valued at approximately $25,373,896.38. This represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.91% of the stock is owned by company insiders.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Several large investors have recently added to or reduced their stakes in CLMT. Creative Planning lifted its holdings in shares of Calumet Specialty Products Partners by 46.4% in 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. Founders Financial Alliance LLC raised its position in Calumet Specialty Products Partners by 8.4% in the 2nd 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. DRW Securities LLC bought a new position in Calumet Specialty Products Partners during the 2nd quarter valued at $898,000. Finally, Wedbush Securities Inc. purchased a new position in Calumet Specialty Products Partners during the 2nd quarter worth $169,000. Institutional investors own 34.41% of the company’s stock.

Calumet Specialty Products Partners Company Profile

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.