Calumet Specialty Products Partners (NASDAQ:CLMT) Upgraded at StockNews.com

StockNews.com upgraded shares of Calumet Specialty Products Partners (NASDAQ:CLMT) to a sell rating in a research note issued to investors on Monday morning.

A number of other brokerages have also recently issued reports on CLMT. HC Wainwright reiterated a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, November 11th. 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 report on Monday, October 21st. The Goldman Sachs Group reduced their target price on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, August 5th. 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 report on Monday, November 11th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.75.

Calumet Specialty Products Partners Stock Performance

Shares of CLMT stock opened at $20.81 on Monday. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $25.29. The firm’s 50 day moving average price is $19.86 and its two-hundred day moving average price is $17.23. The stock has a market cap of $1.79 billion, a PE ratio of -7.54 and a beta of 1.90.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $888.36 million. During the same quarter in the previous year, the company posted $0.03 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts predict that Calumet Specialty Products Partners will post -2.87 earnings per share for the current fiscal year.

Insider Transactions at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 1,388,529 shares in the company, valued at approximately $28,589,812.11. This trade represents a 6.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.91% of the company’s stock.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Several institutional investors have recently added to or reduced their stakes in CLMT. Founders Financial Alliance LLC lifted its holdings in Calumet Specialty Products Partners by 8.4% during the second quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock valued at $777,000 after purchasing an additional 3,750 shares during the last quarter. Creative Planning increased its stake in Calumet Specialty Products Partners by 46.4% in the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock valued at $1,002,000 after acquiring an additional 19,800 shares during the last quarter. DRW Securities LLC purchased a new stake in Calumet Specialty Products Partners in the second quarter worth approximately $898,000. Wedbush Securities Inc. purchased a new position in Calumet Specialty Products Partners in the 2nd quarter worth $169,000. Finally, Wasserstein Debt Opportunities Management L.P. increased its holdings in shares of Calumet Specialty Products Partners by 2.9% in the second quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock worth $110,606,000 after buying an additional 193,063 shares during the period. 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.