TD Cowen Cuts Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target to $18.00

Calumet Specialty Products Partners (NASDAQ:CLMT) had its price objective decreased by TD Cowen from $20.00 to $18.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. TD Cowen currently has a buy rating on the oil and gas company’s stock.

Several other research analysts also recently issued reports on the company. HC Wainwright reaffirmed a buy rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, May 13th. The Goldman Sachs Group reduced their target price on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a buy rating on the stock in a research note on Monday, August 5th. Finally, StockNews.com began coverage on shares of Calumet Specialty Products Partners in a research note on Monday. They set a hold rating for the company. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $19.33.

Calumet Specialty Products Partners Stock Performance

Shares of NASDAQ CLMT opened at $15.95 on Monday. The business has a fifty day moving average of $14.97 and a two-hundred day moving average of $15.40. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $19.91. The stock has a market cap of $1.28 billion, a PE ratio of -227.86 and a beta of 1.93.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $889.17 million. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.19) earnings per share. Analysts predict that Calumet Specialty Products Partners will post -1.9 earnings per share for the current year.

Hedge Funds Weigh In On Calumet Specialty Products Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. J.W. Cole Advisors Inc. increased its holdings in shares of 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 acquiring an additional 850 shares in the last quarter. Sapient Capital LLC raised its stake in shares of 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 valued at $185,000 after purchasing an additional 1,000 shares during the period. Sheets Smith Wealth Management lifted its holdings in shares of Calumet Specialty Products Partners by 11.2% in 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 boosted its position in shares of Calumet Specialty Products Partners by 4.2% during 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 during the period. Finally, FAS Wealth Partners Inc. grew its holdings in shares of Calumet Specialty Products Partners by 4.5% during 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. Institutional investors own 34.41% of the company’s stock.

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.