HC Wainwright Issues Positive Forecast for Calumet (NASDAQ:CLMT) Stock Price

Calumet (NASDAQ:CLMT) had its target price hoisted by HC Wainwright from $33.00 to $60.00 in a research report report published on Monday,Benzinga reports. HC Wainwright currently has a buy rating on the oil and gas company’s stock.

A number of other brokerages also recently issued reports on CLMT. UBS Group restated a “neutral” rating and issued a $26.00 price target on shares of Calumet in a research report on Friday, February 13th. Wall Street Zen cut shares of Calumet from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. TD Cowen increased their target price on shares of Calumet from $19.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, March 5th. The Goldman Sachs Group raised their target price on shares of Calumet from $24.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Calumet in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.17.

Calumet Stock Up 9.3%

CLMT stock opened at $35.04 on Monday. Calumet has a 52 week low of $7.68 and a 52 week high of $36.94. The company has a fifty day simple moving average of $27.05 and a two-hundred day simple moving average of $21.99. The firm has a market capitalization of $3.04 billion, a P/E ratio of -89.84 and a beta of 1.18.

Calumet (NASDAQ:CLMT) last posted its earnings results on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.24. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.04 billion. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.47) earnings per share. As a group, analysts anticipate that Calumet will post -3.02 EPS for the current year.

Institutional Trading of Calumet

Several institutional investors and hedge funds have recently made changes to their positions in the business. Great Lakes Advisors LLC purchased a new stake in shares of Calumet during the third quarter valued at $3,088,000. Two Seas Capital LP boosted its position in Calumet by 56.9% in the 2nd quarter. Two Seas Capital LP now owns 4,497,609 shares of the oil and gas company’s stock valued at $70,860,000 after buying an additional 1,631,098 shares during the period. Quantbot Technologies LP boosted its position in Calumet by 364.8% in the 3rd quarter. Quantbot Technologies LP now owns 70,973 shares of the oil and gas company’s stock valued at $1,295,000 after buying an additional 55,705 shares during the period. AYAL Capital Advisors Ltd bought a new position in Calumet in the 2nd quarter worth about $5,278,000. Finally, Lombard Odier Asset Management USA Corp bought a new position in Calumet in the 3rd quarter worth about $2,327,000. 34.41% of the stock is currently owned by institutional investors.

About Calumet

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is an independent provider of high-value, essential product solutions derived from both petroleum and renewable feedstocks. The company operates an integrated network of manufacturing plants, blending terminals and storage facilities across North America, delivering customized products and technical services to industrial, automotive, consumer and agricultural end markets. By leveraging its scale and technical expertise, Calumet tailors supply chain and formulation solutions to meet stringent regulatory and performance requirements.

Calumet’s product portfolio includes specialty lubricants and base oils for high-performance applications; process oils and waxes for food-grade, cosmetic and packaging uses; industrial solvents and cleaning solutions; and fuel additives designed to optimize engine performance and emissions.