Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Given Average Rating of "Buy" by Analysts

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) has received an average recommendation of "Buy" from the four research firms that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $23.75.

Several equities research analysts have issued reports on CLMT shares. HC Wainwright reaffirmed a "buy" rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, November 11th. StockNews.com raised shares of Calumet Specialty Products Partners to a "sell" rating in a research note on Monday, November 18th. Wells Fargo & Company boosted their price target 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, TD Cowen decreased their price objective on Calumet Specialty Products Partners from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, November 11th.

Calumet Specialty Products Partners Stock Performance

CLMT traded up $0.06 on Tuesday, hitting $21.58. 705,035 shares of the company were exchanged, compared to its average volume of 411,606. Calumet Specialty Products Partners has a fifty-two week low of $9.97 and a fifty-two week high of $25.29. The firm has a market capitalization of $1.85 billion, a P/E ratio of -7.80 and a beta of 1.91. The business's fifty day moving average is $21.03 and its 200 day moving average is $17.83.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $888.36 million. Calumet Specialty Products Partners's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. Analysts forecast that Calumet Specialty Products Partners will post -2.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of the company's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $20.59, for a total transaction 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 $28,589,812.11. This represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.91% of the stock is currently owned by insiders.

Institutional Trading of Calumet Specialty Products Partners

A number of institutional investors have recently modified their holdings of CLMT. ARS Investment Partners LLC lifted its position in Calumet Specialty Products Partners by 16.7% during the second quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company's stock valued at $506,000 after buying an additional 4,500 shares in the last quarter. Raymond James & Associates boosted its position in Calumet Specialty Products Partners by 13.4% during the 2nd quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company's stock worth $9,182,000 after purchasing an additional 67,689 shares during the period. FAS Wealth Partners Inc. boosted its position in Calumet Specialty Products Partners by 4.5% during the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company's stock worth $869,000 after purchasing an additional 2,308 shares during the period. Wasserstein Debt Opportunities Management L.P. increased its holdings 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 in the last quarter. Finally, Wedbush Securities Inc. purchased a new position in Calumet Specialty Products Partners in the second quarter valued at about $169,000. Hedge funds and other institutional investors own 34.41% of the company's stock.

About Calumet Specialty Products Partners

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.