Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target Cut to $25.00 by Analysts at HC Wainwright

Calumet Specialty Products Partners (NASDAQ:CLMTGet Rating) had its target price cut by HC Wainwright from $28.00 to $25.00 in a note issued to investors on Wednesday, The Fly reports. HC Wainwright’s price target would suggest a potential upside of 50.15% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. UBS Group started coverage on shares of Calumet Specialty Products Partners in a report on Tuesday, December 13th. They set a “neutral” rating and a $15.70 price target for the company. StockNews.com upgraded shares of Calumet Specialty Products Partners from a “sell” rating to a “hold” rating in a report on Thursday, November 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Calumet Specialty Products Partners currently has an average rating of “Moderate Buy” and an average target price of $22.54.

Calumet Specialty Products Partners Trading Up 0.3 %

NASDAQ CLMT opened at $16.65 on Wednesday. The firm has a market cap of $1.32 billion, a PE ratio of -7.37 and a beta of 2.12. Calumet Specialty Products Partners has a 1-year low of $8.40 and a 1-year high of $20.50. The stock has a 50-day moving average of $15.61 and a 200-day moving average of $15.63.

Calumet Specialty Products Partners (NASDAQ:CLMTGet Rating) last announced its quarterly earnings results on Wednesday, November 9th. The oil and gas company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.13. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.08 billion. As a group, equities research analysts forecast that Calumet Specialty Products Partners will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at Calumet Specialty Products Partners

In related news, Director James S. Carter purchased 2,000 shares of Calumet Specialty Products Partners stock in a transaction that occurred on Monday, November 28th. The shares were bought at an average price of $16.18 per share, for a total transaction of $32,360.00. Following the completion of the transaction, the director now directly owns 289,283 shares of the company’s stock, valued at $4,680,598.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director James S. Carter acquired 2,000 shares of the stock in a transaction on Monday, November 28th. The stock was acquired at an average cost of $16.18 per share, for a total transaction of $32,360.00. Following the completion of the acquisition, the director now directly owns 289,283 shares of the company’s stock, valued at approximately $4,680,598.94. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Stephen P. Mawer bought 3,500 shares of Calumet Specialty Products Partners stock in a transaction on Monday, November 21st. The shares were purchased at an average price of $16.27 per share, for a total transaction of $56,945.00. Following the acquisition, the chairman now directly owns 150,054 shares in the company, valued at approximately $2,441,378.58. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 9,500 shares of company stock valued at $160,765. Company insiders own 2.91% of the company’s stock.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in shares of Calumet Specialty Products Partners by 6.2% in the 2nd quarter. NewEdge Advisors LLC now owns 12,411 shares of the oil and gas company’s stock worth $129,000 after buying an additional 727 shares during the period. Tower Research Capital LLC TRC grew its holdings in Calumet Specialty Products Partners by 107.4% in the third quarter. Tower Research Capital LLC TRC now owns 2,562 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 1,327 shares during the period. Royal Bank of Canada grew its holdings in Calumet Specialty Products Partners by 0.6% in the third quarter. Royal Bank of Canada now owns 229,908 shares of the oil and gas company’s stock worth $2,945,000 after purchasing an additional 1,425 shares during the period. PSI Advisors LLC bought a new position in shares of Calumet Specialty Products Partners during the fourth quarter valued at approximately $25,000. Finally, UBS Group AG lifted its holdings in shares of Calumet Specialty Products Partners by 10.4% during the third quarter. UBS Group AG now owns 17,208 shares of the oil and gas company’s stock valued at $220,000 after purchasing an additional 1,618 shares during the last quarter. Institutional investors own 21.05% of the company’s stock.

Calumet Specialty Products Partners Company Profile

(Get Rating)

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets slate of specialty branded products to various consumer-facing and industrial markets in North America and internationally. Its Specialty Products and Solutions segment offers various solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products.

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