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 report report published on Monday,Benzinga reports. The brokerage currently has a $25.00 target price on the oil and gas company’s stock. HC Wainwright also issued estimates for Calumet Specialty Products Partners’ FY2026 earnings at $1.86 EPS, FY2027 earnings at $2.40 EPS and FY2028 earnings at $2.68 EPS.

A number of other analysts have also weighed in on CLMT. StockNews.com assumed coverage on shares of Calumet Specialty Products Partners in a research note on Wednesday, October 23rd. They set a “sell” rating on the stock. The Goldman Sachs Group reduced their price objective on shares of 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. Wells Fargo & Company lifted their price objective on shares of 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, TD Cowen increased their target price on Calumet Specialty Products Partners from $22.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Calumet Specialty Products Partners has an average rating of “Moderate Buy” and a consensus target price of $23.75.

Calumet Specialty Products Partners Stock Down 2.1 %

NASDAQ:CLMT opened at $19.90 on Monday. Calumet Specialty Products Partners has a 52 week low of $9.97 and a 52 week high of $25.29. The company has a fifty day simple moving average of $19.44 and a two-hundred day simple moving average of $17.06. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -7.21 and a beta of 1.90.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its earnings results 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 company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $888.36 million. Calumet Specialty Products Partners’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm earned $0.03 earnings per share. On average, analysts expect that Calumet Specialty Products Partners will post -2.02 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CLMT. Raymond James & Associates boosted its stake in Calumet Specialty Products Partners by 13.4% in the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock valued at $9,182,000 after acquiring an additional 67,689 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Calumet Specialty Products Partners in the 1st quarter valued at about $493,000. Wasserstein Debt Opportunities Management L.P. grew its stake in Calumet Specialty Products Partners by 2.9% during the 2nd 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 during the last quarter. Creative Planning increased its position 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 buying an additional 19,800 shares during the period. Finally, Founders Financial Alliance LLC increased its position in Calumet Specialty Products Partners by 8.4% during the second quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock worth $777,000 after buying an additional 3,750 shares during the period. 34.41% of the stock is owned by hedge funds and other institutional investors.

Calumet Specialty Products Partners Company Profile

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.