Calumet Specialty Products Partners (NASDAQ:CLMT) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research report report published on Monday morning,Benzinga reports. They currently have a $25.00 target price on the oil and gas company’s stock. HC Wainwright also issued estimates for Calumet Specialty Products Partners’ Q4 2024 earnings at ($1.13) EPS, FY2024 earnings at ($3.02) EPS, FY2025 earnings at $0.28 EPS, FY2026 earnings at $1.86 EPS, FY2027 earnings at $2.40 EPS and FY2028 earnings at $2.68 EPS.

Several other equities research analysts also recently commented on the stock. The Goldman Sachs Group dropped 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 upped their price target on shares of 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. TD Cowen lifted their price objective on shares of Calumet Specialty Products Partners from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, StockNews.com started coverage on Calumet Specialty Products Partners in a report on Wednesday, October 23rd. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

Calumet Specialty Products Partners Trading Up 3.0 %

NASDAQ:CLMT opened at $20.49 on Monday. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $25.29. The firm’s 50 day moving average is $19.50 and its 200 day moving average is $17.09. The stock has a market capitalization of $1.76 billion, a PE ratio of -7.42 and a beta of 1.90.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $888.36 million. Calumet Specialty Products Partners’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. Research analysts predict that Calumet Specialty Products Partners will post -2.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jennifer Straumins sold 100,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $20.59, for a total transaction of $2,059,000.00. Following the sale, the director now owns 1,388,529 shares in the company, valued at approximately $28,589,812.11. This trade represents a 6.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.91% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Sapient Capital LLC lifted its stake in Calumet Specialty Products Partners by 9.5% during the second 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 last quarter. FAS Wealth Partners Inc. boosted its stake in 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 in the last quarter. Founders Financial Alliance LLC grew 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 valued at $777,000 after acquiring an additional 3,750 shares during the last quarter. ARS Investment Partners LLC raised its stake in shares of Calumet Specialty Products Partners by 16.7% during the second quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock worth $506,000 after acquiring an additional 4,500 shares in the last quarter. Finally, Wedbush Securities Inc. bought a new stake in shares of Calumet Specialty Products Partners in the 2nd quarter worth approximately $169,000. 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.