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

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) have received a consensus rating of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $23.60.

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

Insider Activity at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.42, for a total value of $810,982.62. Following the sale, the director now owns 1,184,589 shares in the company, valued at approximately $25,373,896.38. This represents a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.91% of the stock is owned by insiders.

Institutional Trading of Calumet Specialty Products Partners

A hedge fund recently raised its stake in Calumet Specialty Products Partners stock. Creative Planning raised its holdings in shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 46.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & 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 quarter. Creative Planning owned 0.08% of Calumet Specialty Products Partners worth $1,002,000 as of its most recent filing with the Securities & Exchange Commission. 34.41% of the stock is currently owned by institutional investors.

Calumet Specialty Products Partners Stock Performance

Calumet Specialty Products Partners stock opened at $18.34 on Tuesday. The company has a market cap of $1.58 billion, a P/E ratio of -6.64 and a beta of 1.88. The firm’s 50-day moving average is $20.30 and its 200-day moving average is $18.87. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $888.36 million. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 earnings per share. As a group, sell-side analysts predict that Calumet Specialty Products Partners will post -3.02 earnings per share for the current year.

About Calumet Specialty Products Partners

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.