Analysts Set Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Price Target at $23.60

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) have been assigned an average rating of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $23.60.

A number of analysts recently issued reports on CLMT shares. HC Wainwright raised their price target on Calumet Specialty Products Partners from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. StockNews.com upgraded shares of Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. TD Cowen cut their price target on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, November 11th. UBS Group downgraded shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $20.50 to $15.00 in a research note on Tuesday. Finally, Wells Fargo & Company upped their target price on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, October 21st.

Calumet Specialty Products Partners Trading Down 0.8 %

Shares of NASDAQ:CLMT opened at $16.51 on Tuesday. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -5.98 and a beta of 1.88. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $25.29. The company has a 50-day moving average price of $19.96 and a 200 day moving average price of $18.86.

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 (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $888.36 million. Calumet Specialty Products Partners’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. As a group, equities analysts forecast that Calumet Specialty Products Partners will post -3.02 EPS for the current year.

Insider Buying and Selling at Calumet Specialty Products Partners

In related news, Director Jennifer Straumins sold 100,000 shares of Calumet Specialty Products Partners stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $20.59, for a total value of $2,059,000.00. Following the completion of the sale, the director now directly owns 1,388,529 shares in the company, valued at $28,589,812.11. The trade was a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.91% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Calumet Specialty Products Partners

A hedge fund recently raised its stake in Calumet Specialty Products Partners stock. Creative Planning grew its holdings in shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 46.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,459 shares of the oil and gas company’s stock after purchasing an additional 19,800 shares during the period. Creative Planning owned approximately 0.08% of Calumet Specialty Products Partners worth $1,002,000 at the end of the most recent quarter. 34.41% of the stock is currently owned by institutional investors.

Calumet Specialty Products Partners Company Profile

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.