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

HC Wainwright reaffirmed their buy rating on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a report issued on Monday,Benzinga reports. HC Wainwright currently has a $33.00 price objective on the oil and gas company’s stock. HC Wainwright also issued estimates for Calumet Specialty Products Partners’ Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.34) EPS, Q3 2025 earnings at ($0.18) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($1.04) EPS, FY2026 earnings at $0.14 EPS, FY2027 earnings at $1.11 EPS, FY2028 earnings at $2.06 EPS and FY2029 earnings at $2.58 EPS.

Other equities research analysts also recently issued reports about the stock. TD Cowen cut their price objective on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, November 11th. StockNews.com upgraded shares of Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. Finally, UBS Group downgraded shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $20.50 to $15.00 in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.40.

Calumet Specialty Products Partners Stock Performance

Calumet Specialty Products Partners stock opened at $12.98 on Monday. Calumet Specialty Products Partners has a 52 week low of $9.97 and a 52 week high of $25.29. The stock has a market capitalization of $1.12 billion, a P/E ratio of -4.70 and a beta of 1.88. The stock has a 50-day simple moving average of $17.83 and a 200 day simple moving average of $19.20.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings results on Friday, February 28th. The oil and gas company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.59. The business had revenue of $949.50 million for the quarter, compared to the consensus estimate of $921.76 million. During the same quarter in the previous year, the business posted ($0.59) EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts forecast that Calumet Specialty Products Partners will post -3.02 earnings per share for the current year.

Insider Activity

In other news, Director Jennifer Straumins sold 37,861 shares of Calumet Specialty Products Partners stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $21.42, for a total value of $810,982.62. Following the completion of the sale, the director now directly owns 1,184,589 shares in the company, valued at approximately $25,373,896.38. The trade was a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Lunin purchased 2,500 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $13.05 per share, with a total value of $32,625.00. Following the completion of the transaction, the chief financial officer now owns 2,500 shares of the company’s stock, valued at $32,625. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 2.91% of the stock is owned by company insiders.

About Calumet Specialty Products Partners

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.