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

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

CLMT has been the topic of several other reports. StockNews.com initiated coverage on Calumet Specialty Products Partners in a report on Tuesday, October 15th. They set a “hold” rating on the stock. TD Cowen increased their price target on Calumet Specialty Products Partners from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lowered their price target on 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. Finally, HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Calumet Specialty Products Partners Price Performance

Shares of NASDAQ:CLMT opened at $21.19 on Monday. The business’s 50-day moving average is $18.74 and its 200 day moving average is $16.52. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 year high of $25.29. The firm has a market capitalization of $1.70 billion, a P/E ratio of -302.64 and a beta of 1.92.

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

Hedge Funds Weigh In On Calumet Specialty Products Partners

A number of institutional investors have recently added to or reduced their stakes in CLMT. Wasserstein Debt Opportunities Management L.P. lifted its position 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 buying an additional 193,063 shares in the last quarter. Raymond James & Associates increased its stake in Calumet Specialty Products Partners by 13.4% during the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after acquiring an additional 67,689 shares during the last quarter. DRW Securities LLC acquired a new stake in Calumet Specialty Products Partners during the second quarter worth $898,000. GSA Capital Partners LLP acquired a new stake in Calumet Specialty Products Partners during the first quarter worth $493,000. Finally, Creative Planning increased its stake 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 acquiring an additional 19,800 shares during the last quarter. Hedge funds and other institutional investors 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.