HC Wainwright Reaffirms “Buy” Rating for Calumet Specialty Products Partners (NASDAQ:CLMT)

HC Wainwright restated their buy rating on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research note published on Thursday, Benzinga reports. The firm currently has a $25.00 price target on the oil and gas company’s stock.

CLMT has been the subject of a number of other reports. StockNews.com began coverage on shares of Calumet Specialty Products Partners in a research report on Tuesday. They issued a “hold” rating for the company. TD Cowen increased their price objective on shares of Calumet Specialty Products Partners from $22.00 to $27.00 and gave the company a “buy” rating in a report on Thursday. Finally, The Goldman Sachs Group lowered their target price on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, August 5th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Calumet Specialty Products Partners currently has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Calumet Specialty Products Partners Stock Down 0.3 %

CLMT stock opened at $21.87 on Thursday. The stock has a market capitalization of $1.76 billion, a P/E ratio of -312.43 and a beta of 1.92. Calumet Specialty Products Partners has a 52 week low of $9.97 and a 52 week high of $25.29. The firm has a 50-day simple moving average of $18.19 and a 200-day simple moving average of $16.32.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $889.17 million. During the same quarter last year, the business earned ($0.19) EPS. The business’s revenue was up 11.4% compared to the same quarter last year. On average, analysts expect that Calumet Specialty Products Partners will post -1.97 earnings per share for the current year.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Several institutional investors have recently modified their holdings of CLMT. Future Financial Wealth Managment LLC acquired a new position in Calumet Specialty Products Partners in the first quarter valued at approximately $119,000. Mcintyre Freedman & Flynn Investment Advisers Inc. purchased a new stake in shares of Calumet Specialty Products Partners in the 1st quarter valued at about $171,000. J.W. Cole Advisors Inc. boosted its position in shares of Calumet Specialty Products Partners by 4.3% in the 1st 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 during the period. GSA Capital Partners LLP purchased a new position in Calumet Specialty Products Partners during the 1st quarter worth approximately $493,000. Finally, Deuterium Capital Management LLC acquired a new position in Calumet Specialty Products Partners during the first quarter worth approximately $159,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

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.