Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target Cut to $26.00 by Analysts at TD Cowen

Calumet Specialty Products Partners (NASDAQ:CLMT) had its price target lowered by TD Cowen from $27.00 to $26.00 in a research note published on Monday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

Several other equities analysts have also issued reports on CLMT. Wells Fargo & Company lifted their price objective on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, October 21st. StockNews.com initiated coverage on Calumet Specialty Products Partners in a research report on Wednesday, October 23rd. They issued a “sell” rating for the company. The Goldman Sachs Group decreased their price objective 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. Finally, HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.75.

Calumet Specialty Products Partners Stock Down 2.1 %

Shares of NASDAQ CLMT opened at $19.90 on Monday. Calumet Specialty Products Partners has a twelve month low of $9.97 and a twelve month high of $25.29. The firm has a market cap of $1.71 billion, a PE ratio of -7.21 and a beta of 1.90. The business has a fifty day simple moving average of $19.44 and a two-hundred day simple moving average of $17.06.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $888.36 million. During the same period in the prior year, the firm earned $0.03 EPS. Calumet Specialty Products Partners’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, research analysts expect that Calumet Specialty Products Partners will post -2.02 earnings per share for the current year.

Institutional Trading of Calumet Specialty Products Partners

Institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new position in Calumet Specialty Products Partners during the 1st quarter valued at about $493,000. Sapient Capital LLC grew its stake in shares of 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 acquiring an additional 1,000 shares during the last quarter. ARS Investment Partners LLC increased its holdings 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 valued at $506,000 after acquiring an additional 4,500 shares in the last quarter. Raymond James & Associates raised its position in shares of Calumet Specialty Products Partners by 13.4% in the 2nd quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock valued at $9,182,000 after purchasing an additional 67,689 shares during the last quarter. Finally, FAS Wealth Partners Inc. boosted its stake in Calumet Specialty Products Partners by 4.5% in the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock worth $869,000 after purchasing an additional 2,308 shares in the last quarter. Institutional investors and hedge funds 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.