UBS Group Downgrades Calumet Specialty Products Partners (NASDAQ:CLMT) to Sell

Calumet Specialty Products Partners (NASDAQ:CLMTGet Free Report) was downgraded by equities researchers at UBS Group from a “neutral” rating to a “sell” rating in a research note issued on Tuesday,Finviz reports. They currently have a $15.00 price target on the oil and gas company’s stock, down from their prior price target of $20.50. UBS Group’s price objective would suggest a potential downside of 18.21% from the stock’s previous close.

A number of other research analysts also recently weighed in on CLMT. HC Wainwright upped their price objective on shares of 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 Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. Wells Fargo & Company boosted their target price 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. Finally, TD Cowen dropped their price objective 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. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.60.

Check Out Our Latest Report on CLMT

Calumet Specialty Products Partners Stock Up 3.6 %

NASDAQ CLMT opened at $18.34 on Tuesday. 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 $1.58 billion, a P/E ratio of -6.64 and a beta of 1.88. The company has a 50-day moving average price of $20.30 and a 200-day moving average price of $18.87.

Calumet Specialty Products Partners (NASDAQ:CLMTGet Free Report) last issued its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $888.36 million. The business’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. As a group, equities research analysts anticipate that Calumet Specialty Products Partners will post -3.02 EPS for the current year.

Insider Buying and Selling at Calumet Specialty Products Partners

In other news, Director Jennifer Straumins sold 100,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $20.59, for a total transaction of $2,059,000.00. Following the sale, the director now owns 1,388,529 shares in the company, valued at approximately $28,589,812.11. This represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.91% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Calumet Specialty Products Partners stock. Creative Planning lifted its holdings in shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMTFree Report) by 46.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 0.08% of Calumet Specialty Products Partners worth $1,002,000 at the end of the most recent reporting period. 34.41% of the stock is owned by institutional investors.

Calumet Specialty Products Partners Company Profile

(Get Free Report)

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.

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