Calumet Specialty Products Partners (NASDAQ:CLMT - Free Report) had its price objective increased by HC Wainwright from $25.00 to $33.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the oil and gas company's stock.
CLMT has been the topic of several other research reports. TD Cowen cut their price target 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. Wells Fargo & Company upped their target price on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Finally, StockNews.com upgraded shares of Calumet Specialty Products Partners to a "sell" rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $25.75.
Read Our Latest Analysis on CLMT
Calumet Specialty Products Partners Trading Up 1.1 %
NASDAQ CLMT traded up $0.25 during trading hours on Monday, reaching $22.00. The company had a trading volume of 2,559,421 shares, compared to its average volume of 1,044,357. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $25.29. The stock has a market capitalization of $1.89 billion, a P/E ratio of -7.97 and a beta of 1.90. The stock has a 50-day moving average of $21.42 and a 200 day moving average of $18.75.
Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last released its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $888.36 million. During the same period in the prior year, the company posted $0.03 EPS. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, sell-side analysts predict that Calumet Specialty Products Partners will post -2.87 EPS for the current year.
Insider Buying and Selling at Calumet Specialty Products Partners
In related news, Director Jennifer Straumins sold 37,861 shares of the firm's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total transaction 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 trade represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.91% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of CLMT. Wedbush Securities Inc. acquired a new stake in Calumet Specialty Products Partners in the second quarter valued at about $169,000. Founders Financial Alliance LLC boosted its holdings in Calumet Specialty Products Partners by 8.4% during the second quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company's stock worth $777,000 after buying an additional 3,750 shares in the last quarter. DRW Securities LLC acquired a new position in Calumet Specialty Products Partners during the second quarter worth about $898,000. Finally, Creative Planning increased its holdings in Calumet Specialty Products Partners by 46.4% in the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company's stock valued at $1,002,000 after buying an additional 19,800 shares in the last quarter. 34.41% of the stock is currently owned by hedge funds and other institutional investors.
Calumet Specialty Products Partners Company Profile
(
Get Free Report)
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.
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