Calumet (NASDAQ:CLMT) Price Target Raised to $25.00

Calumet (NASDAQ:CLMT) had its price target hoisted by TD Cowen from $19.00 to $25.00 in a research report report published on Thursday morning, MarketBeat.com reports. TD Cowen currently has a hold rating on the oil and gas company’s stock.

Several other brokerages also recently commented on CLMT. Zacks Research raised shares of Calumet from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Wall Street Zen downgraded shares of Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Calumet in a research report on Monday, December 29th. UBS Group restated a “neutral” rating and set a $26.00 price target on shares of Calumet in a report on Friday, February 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of Calumet in a research report on Monday, November 10th. Four investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.00.

Calumet Price Performance

Shares of NASDAQ:CLMT opened at $30.40 on Thursday. The stock has a market capitalization of $2.64 billion, a P/E ratio of -77.95 and a beta of 1.18. The business has a 50-day moving average of $23.98 and a two-hundred day moving average of $20.49. Calumet has a fifty-two week low of $7.68 and a fifty-two week high of $31.41.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.24. The company had revenue of ($3,098.50) million during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the business posted ($0.47) earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, research analysts expect that Calumet will post -3.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Calumet

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Calumet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 4,703,040 shares of the oil and gas company’s stock valued at $93,449,000 after acquiring an additional 58,376 shares in the last quarter. Two Seas Capital LP grew its holdings in shares of Calumet by 56.9% during the 2nd quarter. Two Seas Capital LP now owns 4,497,609 shares of the oil and gas company’s stock worth $70,860,000 after purchasing an additional 1,631,098 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Calumet by 112.4% during the second quarter. Geode Capital Management LLC now owns 1,704,670 shares of the oil and gas company’s stock valued at $26,860,000 after purchasing an additional 901,933 shares during the period. Marshall Wace LLP raised its stake in shares of Calumet by 35.8% in the third quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock valued at $16,268,000 after purchasing an additional 234,766 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Calumet by 3.4% in the second quarter. Bank of America Corp DE now owns 609,307 shares of the oil and gas company’s stock worth $9,600,000 after purchasing an additional 20,110 shares during the period. 34.41% of the stock is owned by institutional investors and hedge funds.

Calumet Company Profile

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.