Calumet (NASDAQ:CLMT) Stock Price Expected to Rise, HC Wainwright Analyst Says

Calumet (NASDAQ:CLMT) had its price target upped by investment analysts at HC Wainwright from $33.00 to $60.00 in a research report issued to clients and investors 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 indicate a potential upside of 67.13% from the company’s previous close.

CLMT has been the subject of a number of other reports. UBS Group reissued a “neutral” rating and set a $26.00 price objective on shares of Calumet in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Calumet in a research note on Monday, December 29th. Wall Street Zen cut Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. TD Cowen raised their price target on Calumet from $19.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, March 5th. Finally, 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 report on Thursday, March 12th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.17.

Calumet Stock Up 2.5%

Calumet stock opened at $35.90 on Monday. The firm has a market capitalization of $3.12 billion, a PE ratio of -92.05 and a beta of 1.18. Calumet has a 52 week low of $7.68 and a 52 week high of $36.94. The firm’s 50-day simple moving average is $27.36 and its 200 day simple moving average is $22.12.

Calumet (NASDAQ:CLMT) last posted its earnings results on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share for the quarter, beating the consensus estimate 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. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.47) earnings per share. On average, research analysts expect that Calumet will post -3.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Calumet

Institutional investors and hedge funds have recently modified their holdings of the company. Two Seas Capital LP raised its holdings in Calumet by 56.9% in the 2nd 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 during the last quarter. AYAL Capital Advisors Ltd acquired a new stake in shares of Calumet during the second quarter worth $5,278,000. Mariner LLC boosted its holdings in shares of Calumet by 959.6% during the third 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 last quarter. Marshall Wace LLP grew its position in shares of Calumet by 35.8% in the third 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 during the period. Finally, Goldman Sachs Group Inc. increased its stake in Calumet by 128.3% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.

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.