Analysts Set Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) Target Price at $31.00

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) has been assigned a consensus rating of “Hold” from the eleven brokerages that are presently covering the company, AnalystRatingsNetwork.com reports. Six investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $31.00.

A hedge fund recently bought a new stake in Calumet Specialty Products Partners, L.P stock. ING Groep acquired a new position in shares of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 166,714 shares of the company’s stock, valued at approximately $4,053,000. ING Groep owned 0.22% of Calumet Specialty Products Partners, L.P at the end of the most recent quarter.

A number of equities analysts recently issued reports on the stock. RBC Capital assumed coverage on shares of Calumet Specialty Products Partners, L.P in a report on Monday, November 16th. They issued an “outperform” rating and a $32.00 price objective on the stock. Goldman Sachs assumed coverage on shares of Calumet Specialty Products Partners, L.P in a report on Monday, November 23rd. They issued a “neutral” rating and a $29.00 price objective on the stock. DA Davidson assumed coverage on shares of Calumet Specialty Products Partners, L.P in a report on Monday, November 16th. They issued a “buy” rating and a $34.00 price objective on the stock. Zacks Investment Research raised shares of Calumet Specialty Products Partners, L.P from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Thursday, November 5th. Finally, Credit Suisse reissued an “outperform” rating on shares of Calumet Specialty Products Partners, L.P in a report on Friday, December 4th.

Shares of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) traded down 2.91% during trading on Monday, hitting $19.33. 129,349 shares of the stock were exchanged. Calumet Specialty Products Partners, L.P has a 52-week low of $17.70 and a 52-week high of $29.14. The firm has a 50 day moving average of $23.17 and a 200-day moving average of $25.40. The stock’s market cap is $1.46 billion.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.41. The company earned $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. Equities research analysts anticipate that Calumet Specialty Products Partners, L.P will post $0.01 earnings per share for the current fiscal year.

12 Month Chart for NASDAQ:CLMT

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) is a producer of specialty hydrocarbon products in North America. The Company’s segments include specialty products, fuel products and oilfield services. In its specialty products segment, it processes crude oil and other feedstocks into a range of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes. It also blends and market specialty products through Royal Purple, Bel-Ray, TruFuel and Quantum brands. In its fuel products segment, it processes crude oil into a range of fuel and fuel-related products, including gasoline, diesel, jet fuel, asphalt and heavy fuel oils, as well as reselling purchased crude oil to third party customers. Its oilfield services segment manufactures and markets products and provides oilfield services, including drilling fluids, completion fluids, production chemicals and solids control services to the oil and gas exploration industry throughout the United States.

 

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