Calumet Specialty Products Partners (NASDAQ:CLMT) Lowered to "Sell" Rating by UBS Group

UBS Group lowered shares of Calumet Specialty Products Partners (NASDAQ:CLMT - Free Report) from a neutral rating to a sell rating in a report issued on Tuesday, Marketbeat reports. UBS Group currently has $15.00 target price on the oil and gas company's stock, down from their previous target price of $20.50.

Other equities research analysts also recently issued reports about the company. TD Cowen dropped 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, November 11th. HC Wainwright lifted their price objective on shares of Calumet Specialty Products Partners from $25.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, January 13th. StockNews.com raised shares of Calumet Specialty Products Partners to a "sell" rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company raised their price target on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an "overweight" rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, Calumet Specialty Products Partners presently has a consensus rating of "Hold" and a consensus price target of $23.60.

Calumet Specialty Products Partners Stock Down 1.8 %

Shares of Calumet Specialty Products Partners stock traded down $0.30 during trading hours on Tuesday, hitting $16.21. The company's stock had a trading volume of 734,020 shares, compared to its average volume of 1,424,201. The business has a fifty day moving average of $19.83 and a 200 day moving average of $18.87. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $25.29. The company has a market capitalization of $1.39 billion, a PE ratio of -5.87 and a beta of 1.88.

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 during the quarter, compared to analysts' expectations of $888.36 million. The company's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. On average, sell-side analysts anticipate that Calumet Specialty Products Partners will post -3.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jennifer Straumins sold 37,861 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total value of $810,982.62. Following the completion of the sale, the director now directly owns 1,184,589 shares of the company's stock, valued at $25,373,896.38. The trade was a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.91% of the company's stock.

Institutional Investors Weigh In On Calumet Specialty Products Partners

An institutional investor recently raised its position in Calumet Specialty Products Partners stock. Creative Planning raised its holdings in shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Free Report) by 46.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,459 shares of the oil and gas company's stock after purchasing an additional 19,800 shares during the period. Creative Planning owned about 0.08% of Calumet Specialty Products Partners worth $1,002,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 34.41% of the company's stock.

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.