Calumet Specialty Products Partners (NASDAQ:CLMT) Given New $26.00 Price Target at TD Cowen

Calumet Specialty Products Partners (NASDAQ:CLMT - Free Report) had its price objective decreased by TD Cowen from $27.00 to $26.00 in a research report released on Monday morning, Marketbeat.com reports. TD Cowen currently has a buy rating on the oil and gas company's stock.

A number of other research analysts have also recently commented on CLMT. The Goldman Sachs Group cut their target price on Calumet Specialty Products Partners from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Monday, August 5th. HC Wainwright reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday. Wells Fargo & Company lifted their target price on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Finally, StockNews.com assumed coverage on shares of Calumet Specialty Products Partners in a report on Wednesday, October 23rd. They issued a "sell" rating on the stock. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Calumet Specialty Products Partners has a consensus rating of "Moderate Buy" and a consensus price target of $23.75.

Calumet Specialty Products Partners Stock Performance

NASDAQ:CLMT traded up $0.01 during midday trading on Monday, hitting $22.25. 1,248,242 shares of the company traded hands, compared to its average volume of 391,699. The firm's fifty day moving average is $19.26 and its 200-day moving average is $16.96. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last announced its earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share 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 analyst estimates of $888.36 million. The company's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 earnings per share. On average, sell-side analysts anticipate that Calumet Specialty Products Partners will post -2.17 earnings per share for the current year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Hedge funds have recently made changes to their positions in the company. Wedbush Securities Inc. purchased a new position in shares of Calumet Specialty Products Partners during the second quarter valued at $169,000. Sapient Capital LLC grew its holdings in Calumet Specialty Products Partners by 9.5% during the 2nd quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company's stock worth $185,000 after acquiring an additional 1,000 shares in the last quarter. ARS Investment Partners LLC increased its position in Calumet Specialty Products Partners by 16.7% during the 2nd quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company's stock valued at $506,000 after purchasing an additional 4,500 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Calumet Specialty Products Partners in the 1st quarter valued at about $493,000. Finally, Founders Financial Alliance LLC lifted its position 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. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

About Calumet Specialty Products Partners

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.