Calumet Specialty Products Partners’ (CLMT) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a report issued on Monday morning, Benzinga reports. HC Wainwright 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’ Q3 2024 earnings at ($0.57) EPS, Q4 2024 earnings at ($0.40) EPS, FY2024 earnings at ($2.05) EPS, FY2025 earnings at $0.32 EPS, FY2026 earnings at $1.89 EPS, FY2027 earnings at $2.43 EPS and FY2028 earnings at $2.72 EPS.

A number of other equities research analysts have also commented on the stock. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a report on Monday. They set a hold rating for the company. The Goldman Sachs Group dropped their price objective on Calumet Specialty Products Partners from $17.00 to $15.00 and set a buy rating for the company in a report on Monday, August 5th. Finally, TD Cowen reduced their target price on Calumet Specialty Products Partners from $20.00 to $18.00 and set a buy rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $19.33.

Calumet Specialty Products Partners Stock Up 8.4 %

Shares of NASDAQ:CLMT opened at $17.29 on Monday. The stock has a market cap of $1.39 billion, a PE ratio of -247.00 and a beta of 1.93. The company’s fifty day moving average is $15.00 and its 200 day moving average is $15.41. Calumet Specialty Products Partners has a 52 week low of $9.97 and a 52 week high of $19.91.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.07. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $889.17 million. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.19) EPS. Sell-side analysts anticipate that Calumet Specialty Products Partners will post -1.9 EPS for the current year.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. J.W. Cole Advisors Inc. boosted its position in Calumet Specialty Products Partners by 4.3% in the first quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock worth $306,000 after purchasing an additional 850 shares during the last quarter. Sapient Capital LLC raised its holdings in Calumet Specialty Products Partners by 9.5% in the 2nd quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock worth $185,000 after purchasing an additional 1,000 shares during the period. Sheets Smith Wealth Management lifted its position in Calumet Specialty Products Partners by 11.2% during the fourth quarter. Sheets Smith Wealth Management now owns 12,202 shares of the oil and gas company’s stock valued at $218,000 after purchasing an additional 1,225 shares in the last quarter. O Brien Greene & Co. Inc increased its position in Calumet Specialty Products Partners by 4.2% in the fourth quarter. O Brien Greene & Co. Inc now owns 50,000 shares of the oil and gas company’s stock worth $894,000 after buying an additional 2,000 shares in the last quarter. Finally, FAS Wealth Partners Inc. raised its stake in shares of Calumet Specialty Products Partners by 4.5% in the second quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock worth $869,000 after buying an additional 2,308 shares during the period. 34.41% of the stock is owned by institutional investors.

Calumet Specialty Products Partners Company Profile

Calumet Specialty Products Partners, L.P. 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; Performance brands; Montana/Renewables; and Corporate segments.