Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target Cut to $28.00 by Analysts at Wells Fargo & Company

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) had its price objective lowered by equities researchers at Wells Fargo & Company from $29.00 to $28.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the oil and gas company's stock. Wells Fargo & Company's target price would suggest a potential upside of 133.92% from the company's current price.

CLMT has been the topic of several other research reports. UBS Group lowered shares of Calumet Specialty Products Partners from a "neutral" rating to a "sell" rating and dropped their target price for the company from $20.50 to $15.00 in a report on Tuesday, February 4th. TD Cowen downgraded Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and dropped their price objective for the company from $26.00 to $16.00 in a research note on Tuesday, March 4th. StockNews.com raised Calumet Specialty Products Partners to a "sell" rating in a research note on Monday, November 18th. Finally, HC Wainwright reissued a "buy" rating and issued a $33.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Calumet Specialty Products Partners presently has an average rating of "Hold" and an average price target of $21.40.

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Calumet Specialty Products Partners Stock Performance

Shares of CLMT stock traded down $0.48 on Wednesday, hitting $11.97. The company had a trading volume of 830,805 shares, compared to its average volume of 1,442,439. The stock's 50-day moving average is $17.33 and its two-hundred day moving average is $19.09. The firm has a market cap of $1.03 billion, a P/E ratio of -4.34 and a beta of 1.88. Calumet Specialty Products Partners has a twelve month low of $9.97 and a twelve month high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last released its earnings results on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share for the quarter, beating analysts' consensus estimates of ($1.06) by $0.59. The firm 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 period in the prior year, the company posted ($0.59) EPS. Equities research analysts predict that Calumet Specialty Products Partners will post -3.02 EPS for the current year.

Insider Activity at Calumet Specialty Products Partners

In related news, Director Jennifer Straumins sold 37,861 shares of Calumet Specialty Products Partners 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 completion of the sale, the director now owns 1,184,589 shares of the company's stock, valued at approximately $25,373,896.38. This trade represents a 3.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Lunin purchased 2,500 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $13.05 per share, with a total value of $32,625.00. Following the purchase, the chief financial officer now directly owns 2,500 shares in the company, valued at $32,625. This represents a ∞ increase in their position. 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.