Calumet Specialty Products Partners (NASDAQ:CLMT) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of Calumet Specialty Products Partners (NASDAQ:CLMT) to a sell rating in a report published on Monday.

A number of other analysts have also issued reports on the stock. Wells Fargo & Company increased their price target on shares of 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. TD Cowen decreased 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 research note on Monday, November 11th. The Goldman Sachs Group dropped their price target on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Calumet Specialty Products Partners Price Performance

Shares of CLMT opened at $21.52 on Monday. The company has a 50-day moving average of $19.96 and a two-hundred day moving average of $17.26. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -7.80 and a beta of 1.90. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $888.36 million. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 EPS. Analysts anticipate that Calumet Specialty Products Partners will post -2.87 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jennifer Straumins sold 100,000 shares of Calumet Specialty Products Partners stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.91% of the stock is currently owned by corporate insiders.

Institutional Trading of Calumet Specialty Products Partners

Several hedge funds have recently added to or reduced their stakes in the business. Sapient Capital LLC boosted its holdings in Calumet Specialty Products Partners by 9.5% in the 2nd 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 period. ARS Investment Partners LLC grew its position in Calumet Specialty Products Partners by 16.7% during the second quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock worth $506,000 after buying an additional 4,500 shares in the last quarter. Raymond James & Associates increased its stake in Calumet Specialty Products Partners by 13.4% during the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock valued at $9,182,000 after acquiring an additional 67,689 shares during the period. FAS Wealth Partners Inc. raised its holdings in Calumet Specialty Products Partners by 4.5% in the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock valued at $869,000 after acquiring an additional 2,308 shares in the last quarter. Finally, Wasserstein Debt Opportunities Management L.P. raised its holdings in Calumet Specialty Products Partners by 2.9% in the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock valued at $110,606,000 after acquiring an additional 193,063 shares in the last quarter. Institutional investors own 34.41% of the company’s stock.

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.