Calumet Specialty Products Partners (NASDAQ:CLMT) Trading Up 1.7% – Here’s What Happened

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)’s share price traded up 1.7% during trading on Friday . The stock traded as high as $21.11 and last traded at $20.96. 66,578 shares were traded during mid-day trading, a decline of 84% from the average session volume of 426,444 shares. The stock had previously closed at $20.60.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, November 11th. TD Cowen dropped their price target on shares of 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. StockNews.com upgraded shares of Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. Finally, Wells Fargo & Company boosted 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. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Calumet Specialty Products Partners Price Performance

The firm has a market cap of $1.82 billion, a PE ratio of -7.67 and a beta of 1.91. The company’s 50 day moving average price is $21.23 and its 200 day moving average price is $18.28.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $888.36 million. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. Sell-side analysts expect that Calumet Specialty Products Partners, L.P. will post -2.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $21.42, for a total transaction of $810,982.62. Following the completion of the transaction, the director now owns 1,184,589 shares in the company, valued at $25,373,896.38. The trade was a 3.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Several institutional investors have recently modified their holdings of CLMT. Founders Financial Alliance LLC raised its stake in Calumet Specialty Products Partners by 8.4% in 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 buying an additional 3,750 shares in the last quarter. Creative Planning raised its position in shares of 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 acquiring an additional 19,800 shares in the last quarter. DRW Securities LLC acquired a new stake in shares of Calumet Specialty Products Partners during the 2nd quarter worth about $898,000. Wedbush Securities Inc. purchased a new stake in Calumet Specialty Products Partners during the second quarter worth approximately $169,000. Finally, Wasserstein Debt Opportunities Management L.P. boosted its holdings in 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 valued at $110,606,000 after purchasing an additional 193,063 shares in the last quarter. 34.41% of the stock is owned by hedge funds and other institutional investors.

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.