Calumet Specialty Products Partners’ (CLMT) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a report published on Monday,Benzinga reports. The firm 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 analysts also recently issued research reports about the company. UBS Group downgraded Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $20.50 to $15.00 in a research note on Tuesday, February 4th. TD Cowen lowered their target price on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $21.40.

Calumet Specialty Products Partners Price Performance

NASDAQ CLMT opened at $12.98 on Monday. The firm has a market cap of $1.12 billion, a PE ratio of -4.70 and a beta of 1.88. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $25.29. The stock’s 50 day simple moving average is $17.83 and its 200 day simple moving average is $19.20.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released 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. The firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.59) earnings per share. As a group, equities analysts expect that Calumet Specialty Products Partners will post -3.02 earnings per share for the current year.

Insiders Place Their Bets

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

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.