Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Receives $22.17 Average PT from Brokerages

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) have been given an average recommendation of “Buy” by the seven brokerages that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $22.17.

CLMT has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of Calumet Specialty Products Partners from $14.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, November 22nd. Zacks Investment Research downgraded shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating in a report on Monday, January 10th. Credit Suisse Group initiated coverage on shares of Calumet Specialty Products Partners in a report on Thursday, January 6th. They set a “neutral” rating and a $23.00 price objective on the stock. Cowen raised shares of Calumet Specialty Products Partners from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $12.00 to $23.00 in a report on Tuesday, November 23rd. Finally, Wolfe Research raised shares of Calumet Specialty Products Partners from a “peer perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Tuesday, November 23rd.

NASDAQ:CLMT opened at $15.42 on Wednesday. Calumet Specialty Products Partners has a fifty-two week low of $3.02 and a fifty-two week high of $17.43. The firm’s fifty day simple moving average is $14.24 and its 200-day simple moving average is $10.10.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings data on Friday, November 5th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.79. The company had revenue of $874.90 million for the quarter, compared to analysts’ expectations of $864.00 million. During the same period in the prior year, the firm posted ($0.49) EPS. As a group, equities research analysts expect that Calumet Specialty Products Partners will post -2.32 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of CLMT. Adams Asset Advisors LLC increased its position in shares of Calumet Specialty Products Partners by 11.6% in the third quarter. Adams Asset Advisors LLC now owns 5,149,218 shares of the oil and gas company’s stock worth $40,730,000 after acquiring an additional 533,994 shares in the last quarter. Knott David M increased its position in shares of Calumet Specialty Products Partners by 13.1% in the third quarter. Knott David M now owns 3,567,500 shares of the oil and gas company’s stock worth $28,219,000 after acquiring an additional 414,200 shares in the last quarter. Barclays PLC boosted its stake in shares of Calumet Specialty Products Partners by 16,848.0% in the third quarter. Barclays PLC now owns 137,109 shares of the oil and gas company’s stock valued at $1,085,000 after purchasing an additional 136,300 shares during the period. Raymond James & Associates boosted its stake in shares of Calumet Specialty Products Partners by 39.5% in the third quarter. Raymond James & Associates now owns 211,061 shares of the oil and gas company’s stock valued at $1,669,000 after purchasing an additional 59,809 shares during the period. Finally, Belvedere Trading LLC purchased a new position in shares of Calumet Specialty Products Partners in the third quarter valued at $412,000. 32.05% of the stock is owned by hedge funds and other institutional investors.

Calumet Specialty Products Partners Company Profile

Calumet Specialty Products Partners LP engages in the production of specialty hydrocarbon products. It operates through the following segments: Specialty Products, Fuel Products and Corporate. The Specialty Products segment produces lubricating oils, solvents, waxes, synthetic lubricants and other products.

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Analyst Recommendations for Calumet Specialty Products Partners (NASDAQ:CLMT)

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