HC Wainwright Reaffirms "Buy" Rating for Calumet Specialty Products Partners (NASDAQ:CLMT)

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report)'s stock had its "buy" rating restated by research analysts at HC Wainwright in a research note issued on Monday, Benzinga reports. They currently have a $25.00 price target on the oil and gas company's stock. HC Wainwright's target price indicates a potential upside of 62.71% from the stock's current price.

Several other equities research analysts have also recently weighed in on CLMT. StockNews.com began coverage on Calumet Specialty Products Partners in a research report on Monday. They issued a "hold" rating for the company. The Goldman Sachs Group reduced their price objective on Calumet Specialty Products Partners from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, March 21st.

Calumet Specialty Products Partners Trading Up 2.6 %

Calumet Specialty Products Partners stock traded up $0.38 during trading hours on Monday, reaching $15.37. 154,557 shares of the company were exchanged, compared to its average volume of 119,857. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 19.45 and a beta of 1.76. The stock has a 50-day moving average of $15.40 and a 200 day moving average of $15.96. Calumet Specialty Products Partners has a 12 month low of $11.91 and a 12 month high of $19.91.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last announced its earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.40). The business had revenue of $976.50 million during the quarter, compared to analysts' expectations of $856.71 million. During the same period in the prior year, the firm earned ($0.21) earnings per share. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, research analysts forecast that Calumet Specialty Products Partners will post -0.52 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Atria Wealth Solutions Inc. raised its stake in shares of Calumet Specialty Products Partners by 2.9% in the third quarter. Atria Wealth Solutions Inc. now owns 36,000 shares of the oil and gas company's stock valued at $688,000 after purchasing an additional 1,000 shares in the last quarter. Sheets Smith Wealth Management raised its stake in shares of Calumet Specialty Products Partners by 11.2% in the fourth quarter. Sheets Smith Wealth Management now owns 12,202 shares of the oil and gas company's stock valued at $218,000 after purchasing an additional 1,225 shares in the last quarter. O Brien Greene & Co. Inc raised its stake in shares of Calumet Specialty Products Partners by 4.2% in the fourth quarter. O Brien Greene & Co. Inc now owns 50,000 shares of the oil and gas company's stock valued at $894,000 after purchasing an additional 2,000 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of Calumet Specialty Products Partners by 23.4% in the fourth quarter. J.W. Cole Advisors Inc. now owns 19,750 shares of the oil and gas company's stock valued at $353,000 after purchasing an additional 3,750 shares in the last quarter. Finally, Brown Advisory Inc. raised its stake in shares of Calumet Specialty Products Partners by 6.2% in the fourth quarter. Brown Advisory Inc. now owns 85,613 shares of the oil and gas company's stock valued at $1,530,000 after purchasing an additional 5,000 shares in the last quarter. 34.41% of the stock is currently owned by institutional investors and hedge funds.

About Calumet Specialty Products Partners

Calumet Specialty Products Partners, L.P. 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; Performance brands; Montana/Renewables; and Corporate segments.