Calumet Specialty Products Partners (NASDAQ:CLMT) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research note published on Monday morning, Benzinga reports. HC Wainwright currently has a $25.00 price objective on the oil and gas company’s stock.

A number of other analysts have also recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a buy rating for the company in a report on Thursday, March 21st. StockNews.com started coverage on Calumet Specialty Products Partners in a research note on Monday. They set a hold rating for the company.

Calumet Specialty Products Partners Stock Performance

Shares of NASDAQ CLMT opened at $15.67 on Monday. Calumet Specialty Products Partners has a 1 year low of $11.91 and a 1 year high of $19.91. The firm has a market cap of $1.26 billion, a P/E ratio of 19.84 and a beta of 1.76. The stock has a fifty day moving average price of $15.34 and a two-hundred day moving average price of $15.94.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.40). The company had revenue of $976.50 million during the quarter, compared to analyst estimates of $856.71 million. During the same period in the prior year, the company earned ($0.21) earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. On average, research analysts predict that Calumet Specialty Products Partners will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. ICA Group Wealth Management LLC purchased a new stake in shares of Calumet Specialty Products Partners in the 4th quarter valued at approximately $116,000. Future Financial Wealth Managment LLC acquired a new stake in Calumet Specialty Products Partners during the 1st quarter valued at $119,000. PFG Investments LLC acquired a new stake in Calumet Specialty Products Partners during the 1st quarter valued at $155,000. Sapient Capital LLC acquired a new stake in shares of Calumet Specialty Products Partners in the fourth quarter worth $188,000. Finally, Advisor Resource Council acquired a new stake in shares of Calumet Specialty Products Partners in the fourth quarter worth $216,000. 34.41% of the stock is owned by hedge funds and other 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.