Calumet Specialty Products Partners, L.P (CLMT) Receives $6.29 Consensus Price Target from Brokerages

Shares of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $6.29.

A number of research firms have recently issued reports on CLMT. Zacks Investment Research upgraded shares of Calumet Specialty Products Partners, L.P from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a research note on Tuesday, December 12th. Cowen reiterated a “hold” rating and set a $5.00 price objective on shares of Calumet Specialty Products Partners, L.P in a research note on Tuesday, October 17th. Wells Fargo & Company increased their price objective on shares of Calumet Specialty Products Partners, L.P from $7.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, September 29th. They noted that the move was a valuation call. Janney Montgomery Scott downgraded shares of Calumet Specialty Products Partners, L.P from a “buy” rating to a “neutral” rating and raised their target price for the company from $8.50 to $9.00 in a research note on Tuesday, September 5th. Finally, ValuEngine upgraded shares of Calumet Specialty Products Partners, L.P from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) traded up $0.05 during midday trading on Friday, hitting $7.85. 554,944 shares of the stock were exchanged, compared to its average volume of 370,355. The company has a debt-to-equity ratio of 9.55, a quick ratio of 0.59 and a current ratio of 1.36. Calumet Specialty Products Partners, L.P has a 1 year low of $3.40 and a 1 year high of $9.95.

Institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its stake in Calumet Specialty Products Partners, L.P by 13.5% in the first quarter. Morgan Stanley now owns 704,438 shares of the oil and gas company’s stock valued at $2,677,000 after acquiring an additional 83,995 shares in the last quarter. Adams Asset Advisors LLC boosted its stake in Calumet Specialty Products Partners, L.P by 16.0% in the third quarter. Adams Asset Advisors LLC now owns 817,980 shares of the oil and gas company’s stock valued at $6,830,000 after acquiring an additional 112,648 shares in the last quarter. Linscomb & Williams Inc. boosted its stake in Calumet Specialty Products Partners, L.P by 49.1% in the second quarter. Linscomb & Williams Inc. now owns 146,364 shares of the oil and gas company’s stock valued at $622,000 after acquiring an additional 48,201 shares in the last quarter. Royal Bank of Canada boosted its stake in Calumet Specialty Products Partners, L.P by 9.2% in the second quarter. Royal Bank of Canada now owns 484,494 shares of the oil and gas company’s stock valued at $2,059,000 after acquiring an additional 40,676 shares in the last quarter. Finally, Barnett & Company Inc. boosted its stake in Calumet Specialty Products Partners, L.P by 53.2% in the third quarter. Barnett & Company Inc. now owns 103,900 shares of the oil and gas company’s stock valued at $868,000 after acquiring an additional 36,100 shares in the last quarter. Institutional investors own 13.80% of the company’s stock.

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Calumet Specialty Products Partners, L.P Company Profile

Calumet Specialty Products Partners, L.P. is a producer of specialty hydrocarbon products in North America. The Company operates through three segments: specialty products, fuel products and oilfield services. In its specialty products segment, the Company processes crude oil and other feedstocks into a range of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes.

Analyst Recommendations for Calumet Specialty Products Partners, L.P (NASDAQ:CLMT)

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