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

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report)'s stock had its "buy" rating restated by equities researchers at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $25.00 target price on the oil and gas company's stock. HC Wainwright's price target would indicate a potential upside of 12.36% from the company's previous close.

Several other brokerages also recently commented on CLMT. The Goldman Sachs Group cut 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. Wells Fargo & Company raised their price target on shares of 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. TD Cowen upped their price objective on Calumet Specialty Products Partners from $22.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Finally, StockNews.com assumed coverage on Calumet Specialty Products Partners in a report on Wednesday, October 23rd. They issued a "sell" rating for the company. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Calumet Specialty Products Partners has an average rating of "Moderate Buy" and an average target price of $23.75.

Calumet Specialty Products Partners Stock Performance

Shares of CLMT stock traded up $0.01 during mid-day trading on Monday, reaching $22.25. 1,248,242 shares of the company's stock traded hands, compared to its average volume of 391,699. 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 $19.26 and its 200-day moving average price is $16.96.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last released its earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $888.36 million. During the same period last year, the firm earned $0.03 EPS. The business's revenue was down 4.3% on a year-over-year basis. On average, equities analysts expect that Calumet Specialty Products Partners will post -2.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently modified their holdings of CLMT. Sapient Capital LLC increased its position in Calumet Specialty Products Partners by 9.5% during the second quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company's stock valued at $185,000 after acquiring an additional 1,000 shares during the last quarter. FAS Wealth Partners Inc. increased its position in shares of Calumet Specialty Products Partners by 4.5% during the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company's stock valued at $869,000 after purchasing an additional 2,308 shares during the last quarter. Founders Financial Alliance LLC lifted its stake in shares of 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 worth $777,000 after purchasing an additional 3,750 shares during the period. ARS Investment Partners LLC boosted its holdings in shares of Calumet Specialty Products Partners by 16.7% in the second quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company's stock worth $506,000 after buying an additional 4,500 shares during the last quarter. Finally, Wedbush Securities Inc. bought a new stake in Calumet Specialty Products Partners during the second quarter valued at approximately $169,000. 34.41% of the stock is owned by institutional investors.

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.