Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target Raised to $29.00 at Wells Fargo & Company

Calumet Specialty Products Partners (NASDAQ:CLMT - Free Report) had its price objective raised by Wells Fargo & Company from $25.00 to $29.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company's stock.

Several other research firms have also recently weighed in on CLMT. The Goldman Sachs Group cut their price objective on Calumet Specialty Products Partners from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, August 5th. TD Cowen increased 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. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a research note on Tuesday, October 15th. They issued a "hold" rating on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.00.

Calumet Specialty Products Partners Trading Up 5.4 %

Calumet Specialty Products Partners stock traded up $1.09 during trading hours on Monday, reaching $21.15. 1,039,944 shares of the company were exchanged, compared to its average volume of 366,901. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $25.29. The stock has a 50-day moving average of $18.31 and a 200 day moving average of $16.37. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -302.14 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $889.17 million. Calumet Specialty Products Partners's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.19) earnings per share. As a group, research analysts forecast that Calumet Specialty Products Partners will post -1.97 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Raymond James & Associates increased its holdings in Calumet Specialty Products Partners by 13.4% in the 2nd 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 period. GSA Capital Partners LLP bought a new position in Calumet Specialty Products Partners during the first quarter worth about $493,000. Wasserstein Debt Opportunities Management L.P. lifted its stake in Calumet Specialty Products Partners by 2.9% during the second 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 purchasing an additional 193,063 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in Calumet Specialty Products Partners by 4.3% during the first quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company's stock valued at $306,000 after purchasing an additional 850 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Calumet Specialty Products Partners in the 1st quarter valued at approximately $119,000. 34.41% of the stock is currently owned by institutional investors and hedge funds.

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.