Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $23.60.

CLMT has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective 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. StockNews.com raised shares of Calumet Specialty Products Partners to a "sell" rating in a research report on Monday, November 18th. UBS Group downgraded shares of Calumet Specialty Products Partners from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $20.50 to $15.00 in a report on Tuesday. TD Cowen lowered their target price on shares of 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. Finally, HC Wainwright increased their target price on Calumet Specialty Products Partners from $25.00 to $33.00 and gave the stock a "buy" rating in a research report on Monday, January 13th.

Insiders Place Their Bets

In other news, Director Jennifer Straumins sold 37,861 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $21.42, for a total value of $810,982.62. Following the transaction, the director now owns 1,184,589 shares of the company's stock, valued at $25,373,896.38. This represents a 3.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.91% of the company's stock.

Hedge Funds Weigh In On Calumet Specialty Products Partners

A hedge fund recently raised its stake in Calumet Specialty Products Partners stock. Creative Planning lifted its stake in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Free Report) by 46.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,459 shares of the oil and gas company's stock after purchasing an additional 19,800 shares during the quarter. Creative Planning owned about 0.08% of Calumet Specialty Products Partners worth $1,002,000 as of its most recent filing with the Securities & Exchange Commission. 34.41% of the stock is currently owned by institutional investors and hedge funds.

Calumet Specialty Products Partners Stock Down 1.8 %

NASDAQ CLMT traded down $0.30 during trading hours on Tuesday, reaching $16.21. 734,020 shares of the company were exchanged, compared to its average volume of 1,424,201. The stock has a market capitalization of $1.39 billion, a P/E ratio of -5.87 and a beta of 1.88. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 year high of $25.29. The business's 50 day simple moving average is $19.83 and its 200-day simple moving average is $18.87.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $888.36 million. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the business posted $0.03 earnings per share. As a group, sell-side analysts anticipate that Calumet Specialty Products Partners will post -3.02 earnings per share for the current year.

Calumet Specialty Products Partners Company Profile

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.