Calumet (NASDAQ:CLMT) Given New $60.00 Price Target at HC Wainwright

Key Points

• HC Wainwright raised its price target on Calumet from $33 to $60 and maintained a "buy" rating, implying roughly an 87% upside from the current price.
• Analyst coverage is mixed — four buys, three holds and one sell — leaving a MarketBeat consensus rating of "Hold" with a consensus price target of $30.17.
• Calumet recently beat EPS estimates (reported -$0.43 vs. -$0.67 expected) and posted revenue of $1.04B, up 9.4% year‑over‑year.

Calumet (NASDAQ:CLMT - Get Free Report) had its price objective upped by research analysts at HC Wainwright from $33.00 to $60.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the oil and gas company's stock. HC Wainwright's target price would suggest a potential upside of 87.15% from the stock's current price.

Several other research firms also recently issued reports on CLMT. TD Cowen increased their price objective on shares of Calumet from $19.00 to $25.00 and gave the company a "hold" rating in a report on Thursday, March 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Calumet in a report on Monday, December 29th. UBS Group restated a "neutral" rating and issued a $26.00 target price on shares of Calumet in a research report on Friday, February 13th. The Goldman Sachs Group boosted their price target on Calumet from $24.00 to $34.00 and gave the stock a "buy" rating in a research report on Thursday, March 12th. Finally, Wall Street Zen lowered Calumet from a "buy" rating to a "hold" rating in a report on Sunday, December 14th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Calumet has a consensus rating of "Hold" and a consensus price target of $30.17.

Calumet Price Performance

NASDAQ:CLMT opened at $32.06 on Monday. Calumet has a 52 week low of $7.68 and a 52 week high of $32.07. The stock has a market capitalization of $2.78 billion, a PE ratio of -82.20 and a beta of 1.18. The stock's 50-day moving average price is $26.76 and its 200-day moving average price is $21.87.

Calumet (NASDAQ:CLMT - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.67) by $0.24. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter in the prior year, the company posted ($0.47) EPS. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts expect that Calumet will post -3.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Calumet

Several institutional investors and hedge funds have recently bought and sold shares of CLMT. Two Seas Capital LP increased 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 buying an additional 1,631,098 shares during the last quarter. AYAL Capital Advisors Ltd acquired a new position in Calumet in the second quarter valued at approximately $5,278,000. Mariner LLC grew its position in Calumet by 959.6% in the third quarter. Mariner LLC now owns 369,408 shares of the oil and gas company's stock worth $6,742,000 after acquiring an additional 334,544 shares during the period. Marshall Wace LLP increased its stake in Calumet by 35.8% during the third quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company's stock worth $16,268,000 after acquiring an additional 234,766 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Calumet by 128.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 348,115 shares of the oil and gas company's stock worth $6,917,000 after acquiring an additional 195,627 shares during the last quarter. 34.41% of the stock is currently 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.

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