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

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) have been given an average rating of “Buy” by the four research firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued a report on the stock in the last year is $23.75.

CLMT has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, November 11th. StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a research report on Monday. TD Cowen lowered their price objective on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research report 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 report on Monday, October 21st. Finally, The Goldman Sachs Group lowered their price target on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, August 5th.

Insiders Place Their Bets

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of the firm’s stock in a transaction 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 directly owns 1,388,529 shares in the company, valued at approximately $28,589,812.11. This trade represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.91% of the stock is currently owned by corporate insiders.

Institutional Trading of Calumet Specialty Products Partners

Several large investors have recently made changes to their positions in the company. Wasserstein Debt Opportunities Management L.P. grew its position in 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 purchasing an additional 193,063 shares during the period. Raymond James & Associates raised its holdings in Calumet Specialty Products Partners by 13.4% during the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after buying an additional 67,689 shares during the last quarter. DRW Securities LLC bought a new position in shares of Calumet Specialty Products Partners in the second quarter valued at $898,000. Creative Planning increased its position in shares of Calumet Specialty Products Partners by 46.4% during the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after acquiring an additional 19,800 shares in the last quarter. Finally, Wedbush Securities Inc. acquired a new stake in shares of Calumet Specialty Products Partners in the 2nd quarter worth about $169,000. 34.41% of the stock is currently owned by institutional investors and hedge funds.

Calumet Specialty Products Partners Trading Up 1.0 %

Calumet Specialty Products Partners stock opened at $20.79 on Friday. The stock has a 50-day moving average price of $19.75 and a two-hundred day moving average price of $17.21. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $25.29. The company has a market capitalization of $1.79 billion, a PE ratio of -7.53 and a beta of 1.90.

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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $888.36 million. During the same period in the previous year, the business posted $0.03 EPS. Calumet Specialty Products Partners’s revenue was down 4.3% compared to the same quarter last year. As a group, analysts predict that Calumet Specialty Products Partners will post -2.87 earnings per share for the current fiscal year.

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.