Calumet Specialty Products Partners (NASDAQ:CLMT) Releases Quarterly Earnings Results, Beats Expectations By $0.59 EPS

Calumet Specialty Products Partners (NASDAQ:CLMT) released its quarterly earnings data on Friday. The oil and gas company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.59, Zacks reports. The business had revenue of $949.50 million for the quarter, compared to analysts’ expectations of $921.76 million. During the same period last year, the business earned ($0.59) earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis.

Calumet Specialty Products Partners Stock Performance

Shares of NASDAQ:CLMT opened at $14.33 on Friday. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -5.19 and a beta of 1.88. The stock’s 50-day simple moving average is $18.11 and its two-hundred day simple moving average is $19.23. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $25.29.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. TD Cowen dropped their price objective on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. UBS Group cut Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $20.50 to $15.00 in a research report on Tuesday, February 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of Calumet Specialty Products Partners in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $23.60.

Insiders Place Their Bets

In other news, Director Jennifer Straumins sold 37,861 shares of Calumet Specialty Products Partners stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total transaction of $810,982.62. Following the transaction, the director now directly owns 1,184,589 shares of the company’s stock, valued at $25,373,896.38. The trade was a 3.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.91% of the company’s stock.

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.