Calumet Specialty Products Partners (NASDAQ:CLMT) Downgraded to "Hold" Rating by TD Cowen

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) was downgraded by investment analysts at TD Cowen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. They currently have a $16.00 price target on the oil and gas company's stock, down from their previous price target of $26.00. TD Cowen's price target suggests a potential upside of 33.67% from the stock's current price.

Other equities analysts also recently issued reports about the stock. HC Wainwright reaffirmed a "buy" rating and issued a $33.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday. StockNews.com raised Calumet Specialty Products Partners to a "sell" rating in a research report on Monday, November 18th. Finally, UBS Group lowered Calumet Specialty Products Partners from a "neutral" rating to a "sell" rating and reduced their price target for the company from $20.50 to $15.00 in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $21.40.

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Calumet Specialty Products Partners Trading Down 3.9 %

NASDAQ CLMT traded down $0.48 during trading on Tuesday, reaching $11.97. 830,805 shares of the company's stock were exchanged, compared to its average volume of 1,442,439. Calumet Specialty Products Partners has a fifty-two week low of $9.97 and a fifty-two week high of $25.29. The company's fifty day simple moving average is $17.51 and its 200-day simple moving average is $19.11. The firm has a market capitalization of $1.03 billion, a PE ratio of -4.34 and a beta of 1.88.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last posted its quarterly earnings results on Friday, February 28th. The oil and gas company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.59. The company had revenue of $949.50 million for the quarter, compared to analyst estimates of $921.76 million. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.59) earnings per share. Equities analysts forecast that Calumet Specialty Products Partners will post -3.02 EPS for the current fiscal year.

Insider Transactions at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total transaction of $810,982.62. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David Lunin purchased 2,500 shares of the stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $13.05 per share, for a total transaction of $32,625.00. Following the acquisition, the chief financial officer now owns 2,500 shares of the company's stock, valued at approximately $32,625. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.91% of the stock is currently owned by corporate insiders.

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.