Calumet (NASDAQ:CLMT) Price Target Raised to $60.00 at HC Wainwright

Calumet (NASDAQ:CLMT) had its price objective boosted by equities researchers at HC Wainwright from $33.00 to $60.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. HC Wainwright’s target price would indicate a potential upside of 87.15% from the company’s previous close.

Several other research firms have also commented on CLMT. UBS Group restated a “neutral” rating and set a $26.00 price target on shares of Calumet in a research report on Friday, February 13th. Wall Street Zen downgraded Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. The Goldman Sachs Group increased their target price on Calumet from $24.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. TD Cowen raised their target price on Calumet from $19.00 to $25.00 and gave the company a “hold” rating in a report on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Calumet in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.17.

Calumet Price Performance

Shares of CLMT stock opened at $32.06 on Monday. The firm has a market cap of $2.78 billion, a PE ratio of -82.20 and a beta of 1.18. The company has a 50-day moving average of $26.76 and a two-hundred day moving average of $21.87. Calumet has a 1-year low of $7.68 and a 1-year high of $32.07.

Calumet (NASDAQ:CLMT) last released its quarterly earnings results on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.24. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the firm posted ($0.47) earnings per share. Calumet’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that Calumet will post -3.02 EPS for the current fiscal year.

Institutional Trading of Calumet

A number of large investors have recently modified their holdings of CLMT. Two Seas Capital LP raised its stake in shares of Calumet by 56.9% in the second quarter. Two Seas Capital LP now owns 4,497,609 shares of the oil and gas company’s stock valued at $70,860,000 after acquiring an additional 1,631,098 shares in the last quarter. AYAL Capital Advisors Ltd acquired a new position in Calumet during the 2nd quarter worth $5,278,000. Mariner LLC increased its holdings in Calumet by 959.6% during the 3rd quarter. Mariner LLC now owns 369,408 shares of the oil and gas company’s stock worth $6,742,000 after purchasing an additional 334,544 shares during the period. Marshall Wace LLP raised its position in Calumet by 35.8% in the 3rd quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock valued at $16,268,000 after purchasing an additional 234,766 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Calumet by 128.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 348,115 shares of the oil and gas company’s stock valued at $6,917,000 after purchasing an additional 195,627 shares in the last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.

About Calumet

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.