Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Receives Average Recommendation of “Buy” from Analysts

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) has been given a consensus rating of “Buy” by the four ratings firms that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $23.75.

A number of analysts have recently commented on CLMT shares. StockNews.com began coverage on Calumet Specialty Products Partners in a report on Wednesday, October 23rd. They issued a “sell” rating on the stock. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday. Wells Fargo & Company upped their price target on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. The Goldman Sachs Group lowered their price objective on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, TD Cowen reduced their target price on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a report on Monday.

Insider Activity at Calumet Specialty Products Partners

In other news, Director Jennifer Straumins sold 100,000 shares of Calumet Specialty Products Partners stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $20.59, for a total value of $2,059,000.00. Following the completion of the transaction, the director now owns 1,388,529 shares of the company’s stock, valued at $28,589,812.11. This trade represents a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.91% of the company’s stock.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Hedge funds have recently bought and sold shares of the company. Wedbush Securities Inc. acquired a new stake in Calumet Specialty Products Partners during the 2nd quarter valued at $169,000. Sapient Capital LLC increased its holdings in shares of Calumet Specialty Products Partners by 9.5% in the second quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock valued at $185,000 after purchasing an additional 1,000 shares during the last quarter. ARS Investment Partners LLC raised its position in shares of Calumet Specialty Products Partners by 16.7% in the second quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock valued at $506,000 after purchasing an additional 4,500 shares during the period. Founders Financial Alliance LLC lifted its stake in shares of Calumet Specialty Products Partners by 8.4% during the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock worth $777,000 after buying an additional 3,750 shares during the last quarter. Finally, FAS Wealth Partners Inc. boosted its holdings in shares of Calumet Specialty Products Partners by 4.5% during the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock worth $869,000 after buying an additional 2,308 shares during the period. 34.41% of the stock is currently owned by institutional investors and hedge funds.

Calumet Specialty Products Partners Stock Performance

Shares of CLMT opened at $20.49 on Friday. The stock has a 50 day simple moving average of $19.50 and a 200 day simple moving average of $17.09. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $25.29. The firm has a market capitalization of $1.76 billion, a PE ratio of -7.42 and a beta of 1.90.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $888.36 million. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. Equities research analysts predict that Calumet Specialty Products Partners will post -2.02 EPS for the current fiscal year.

Calumet Specialty Products Partners Company Profile

Calumet, Inc manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Montana/Renewables; and Performance brands segments.