Analysts Issue Forecasts for CLMT FY2029 Earnings

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Free Report) - Analysts at HC Wainwright issued their FY2029 earnings per share (EPS) estimates for shares of Calumet Specialty Products Partners in a research note issued to investors on Monday, January 13th. HC Wainwright analyst A. Dayal expects that the oil and gas company will post earnings per share of $3.58 for the year. HC Wainwright has a "Buy" rating and a $33.00 price target on the stock. The consensus estimate for Calumet Specialty Products Partners' current full-year earnings is ($2.87) per share.

A number of other analysts have also weighed in on the company. TD Cowen cut their price objective on Calumet Specialty Products Partners from $27.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, November 11th. Wells Fargo & Company upped their price target on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, October 21st. Finally, StockNews.com raised Calumet Specialty Products Partners to a "sell" rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $25.75.

Calumet Specialty Products Partners Stock Down 0.2 %

Calumet Specialty Products Partners stock traded down $0.03 during mid-day trading on Wednesday, reaching $18.93. 1,889,596 shares of the company's stock were exchanged, compared to its average volume of 1,344,955. Calumet Specialty Products Partners has a twelve month low of $9.97 and a twelve month high of $25.29. The company has a market cap of $1.63 billion, a P/E ratio of -6.86 and a beta of 1.90. The company has a fifty day moving average of $21.39 and a 200-day moving average of $18.77.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last posted its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) 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 analyst estimates of $888.36 million. During the same period last year, the firm posted $0.03 earnings per share. The business's revenue for the quarter was down 4.3% on a year-over-year basis.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning raised its holdings in 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 worth $1,002,000 after purchasing an additional 19,800 shares in the last quarter. DRW Securities LLC purchased a new position in shares of Calumet Specialty Products Partners in the 2nd quarter valued at $898,000. Finally, Founders Financial Alliance LLC grew 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 valued at $777,000 after buying an additional 3,750 shares during the last quarter. 34.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Calumet Specialty Products Partners

In other news, Director Jennifer Straumins sold 100,000 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $20.59, for a total transaction of $2,059,000.00. Following the sale, the director now owns 1,388,529 shares of the company's stock, valued at approximately $28,589,812.11. This trade represents a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.91% of the company's stock.

About Calumet Specialty Products Partners

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.