TD Cowen Increases Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target to $27.00

Calumet Specialty Products Partners (NASDAQ:CLMT) had its target price boosted by investment analysts at TD Cowen from $22.00 to $27.00 in a research report issued to clients and investors on Thursday, Briefing.com reports. The firm currently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price objective would suggest a potential upside of 23.12% from the stock’s current price.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group reduced their target price on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, August 5th. StockNews.com started coverage on Calumet Specialty Products Partners in a research report on Tuesday. They set a “hold” rating on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a research report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Calumet Specialty Products Partners Price Performance

Shares of CLMT stock opened at $21.93 on Thursday. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -313.29 and a beta of 1.92. The business has a fifty day moving average of $17.98 and a 200 day moving average of $16.28. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 year high of $21.99.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.19) EPS. As a group, equities research analysts expect that Calumet Specialty Products Partners will post -1.97 earnings per share for the current year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLMT. Future Financial Wealth Managment LLC acquired a new stake in shares of Calumet Specialty Products Partners during the 1st quarter valued at about $119,000. Deuterium Capital Management LLC acquired a new stake in shares of Calumet Specialty Products Partners during the 1st quarter valued at about $159,000. Wedbush Securities Inc. acquired a new stake in shares of Calumet Specialty Products Partners during the 2nd quarter valued at about $169,000. Mcintyre Freedman & Flynn Investment Advisers Inc. acquired a new stake in shares of Calumet Specialty Products Partners during the 1st quarter valued at about $171,000. Finally, Sapient Capital LLC grew its position in shares of Calumet Specialty Products Partners by 9.5% during the 2nd quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock valued at $185,000 after acquiring an additional 1,000 shares during the period. 34.41% of the stock is owned by institutional investors and hedge funds.

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.