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

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) have been assigned a consensus rating of “Buy” from the four research firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have covered the stock in the last year is $23.75.

A number of research firms recently commented on CLMT. Wells Fargo & Company lifted their price objective 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. StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. HC Wainwright reaffirmed 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. Finally, 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 research note on Monday, November 11th.

Calumet Specialty Products Partners Stock Down 1.6 %

Calumet Specialty Products Partners stock opened at $21.52 on Tuesday. The firm has a market capitalization of $1.85 billion, a PE ratio of -7.80 and a beta of 1.91. 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 simple moving average is $21.03 and its 200 day simple moving average is $17.83.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $888.36 million. Calumet Specialty Products Partners’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the business posted $0.03 earnings per share. On average, research analysts expect that Calumet Specialty Products Partners will post -2.87 EPS for the current fiscal year.

Insider Activity

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $28,589,812.11. This trade represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.91% of the company’s stock.

Institutional Investors Weigh In On Calumet Specialty Products Partners

A number of large investors have recently added to or reduced their stakes in CLMT. Founders Financial Alliance LLC boosted its stake in shares of Calumet Specialty Products Partners by 8.4% during the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock valued at $777,000 after buying an additional 3,750 shares during the last quarter. Creative Planning lifted its holdings in Calumet Specialty Products Partners by 46.4% during the 2nd quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after buying an additional 19,800 shares during the last quarter. DRW Securities LLC bought a new position in Calumet Specialty Products Partners during the 2nd quarter worth approximately $898,000. Wedbush Securities Inc. acquired a new position in shares of Calumet Specialty Products Partners in the 2nd quarter worth approximately $169,000. Finally, Wasserstein Debt Opportunities Management L.P. increased its holdings in shares of Calumet Specialty Products Partners by 2.9% in the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock valued at $110,606,000 after acquiring an additional 193,063 shares during the last quarter. 34.41% of the stock is owned by institutional investors and hedge funds.

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.