Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target Raised to $27.00 at TD Cowen

Calumet Specialty Products Partners (NASDAQ:CLMT) had its price target raised by TD Cowen from $22.00 to $27.00 in a research note released on Thursday, MarketBeat.com reports. They currently have a buy rating on the oil and gas company’s stock.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a research note on Tuesday. They set a “hold” rating on the stock. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday, October 7th. Finally, The Goldman Sachs Group lowered 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. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Calumet Specialty Products Partners Stock Performance

Shares of NASDAQ CLMT opened at $21.87 on Thursday. The firm has a market cap of $1.76 billion, a PE ratio of -312.43 and a beta of 1.92. The firm has a fifty day moving average of $18.19 and a 200 day moving average of $16.32. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.07. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $889.17 million. Calumet Specialty Products Partners’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.19) EPS. On average, equities analysts predict that Calumet Specialty Products Partners will post -1.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CLMT. Wasserstein Debt Opportunities Management L.P. boosted its position in shares of Calumet Specialty Products Partners by 2.9% during the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock valued at $110,606,000 after acquiring an additional 193,063 shares during the last quarter. Raymond James & Associates boosted its position in shares of Calumet Specialty Products Partners by 13.4% during 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 acquiring an additional 67,689 shares during the last quarter. DRW Securities LLC acquired a new position in shares of Calumet Specialty Products Partners during the 2nd quarter valued at about $898,000. GSA Capital Partners LLP acquired a new position in shares of Calumet Specialty Products Partners during the 1st quarter valued at about $493,000. Finally, Creative Planning boosted its position in shares of Calumet Specialty Products Partners by 46.4% during the 2nd quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock valued at $1,002,000 after acquiring an additional 19,800 shares during 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.