Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) have received an average rating of "Buy" from the four ratings firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $23.75.
Several equities analysts have issued reports on the stock. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a research report on Wednesday, October 23rd. They issued a "sell" rating for the company. The Goldman Sachs Group decreased their price objective on 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. TD Cowen cut their target price on Calumet Specialty Products Partners from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Monday. Wells Fargo & Company increased their price target on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday.
Read Our Latest Report on CLMT
Calumet Specialty Products Partners Stock Up 2.1 %
NASDAQ CLMT traded up $0.43 on Friday, hitting $20.92. 731,816 shares of the company's stock were exchanged, compared to its average volume of 397,431. The stock has a 50-day moving average of $19.50 and a 200-day moving average of $17.09. Calumet Specialty Products Partners has a 52 week low of $9.97 and a 52 week high of $25.29.
Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $888.36 million. The company's revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 earnings per share. Equities analysts expect 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 business's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $20.59, for a total value of $2,059,000.00. Following the transaction, the director now owns 1,388,529 shares of the company's stock, valued at approximately $28,589,812.11. The trade was a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.91% of the company's stock.
Institutional Investors Weigh In On Calumet Specialty Products Partners
Institutional investors and hedge funds have recently modified their holdings of the company. Wasserstein Debt Opportunities Management L.P. boosted its stake in Calumet Specialty Products Partners by 2.9% during 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 buying an additional 193,063 shares during the period. Raymond James & Associates raised its holdings in shares of Calumet Specialty Products Partners by 13.4% in the 2nd quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company's stock valued at $9,182,000 after acquiring an additional 67,689 shares in the last quarter. Creative Planning boosted 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 valued at $1,002,000 after acquiring an additional 19,800 shares during the last quarter. DRW Securities LLC purchased a new position in shares of Calumet Specialty Products Partners during the second quarter worth about $898,000. Finally, FAS Wealth Partners Inc. increased its position in shares of Calumet Specialty Products Partners by 4.5% in the second 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 last quarter. 34.41% of the stock is owned by hedge funds and other institutional investors.
Calumet Specialty Products Partners Company Profile
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Get Free ReportCalumet, 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.
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