Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target Raised to $33.00

Calumet Specialty Products Partners (NASDAQ:CLMT) had its price objective upped by HC Wainwright from $25.00 to $33.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the oil and gas company’s stock. HC Wainwright also issued estimates for Calumet Specialty Products Partners’ FY2029 earnings at $3.58 EPS.

A number of other equities research analysts also recently issued reports on the company. Wells Fargo & Company boosted their price target on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. Finally, TD Cowen cut their price objective on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Calumet Specialty Products Partners presently has a consensus 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 opened at $18.93 on Monday. The business has a 50-day simple moving average of $21.39 and a two-hundred day simple moving average of $18.77. The company has a market cap of $1.63 billion, a P/E ratio of -6.86 and a beta of 1.90. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $888.36 million. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 EPS. Research analysts anticipate that Calumet Specialty Products Partners will post -2.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total value of $810,982.62. Following the completion of the transaction, the director now directly owns 1,184,589 shares in the company, valued at $25,373,896.38. This represents a 3.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.91% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLMT. DRW Securities LLC bought a new position in Calumet Specialty Products Partners in the 2nd quarter worth approximately $898,000. Creative Planning raised its holdings in shares of Calumet Specialty Products Partners by 46.4% during the 2nd 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 in the last quarter. Wedbush Securities Inc. purchased a new stake in shares of Calumet Specialty Products Partners during the 2nd quarter worth approximately $169,000. Finally, Founders Financial Alliance LLC raised its holdings in shares of Calumet Specialty Products Partners by 8.4% during the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock worth $777,000 after acquiring an additional 3,750 shares in the last quarter. 34.41% of the stock is currently owned by institutional investors.

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.