Calumet Specialty Products Partners (NASDAQ:CLMT - Free Report) had its price objective lowered by Wells Fargo & Company from $28.00 to $23.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the oil and gas company's stock.
A number of other brokerages also recently commented on CLMT. UBS Group upgraded shares of Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and lowered their target price for the stock from $15.00 to $12.00 in a research note on Monday, March 17th. HC Wainwright reiterated 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. Finally, TD Cowen downgraded shares of Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $26.00 to $16.00 in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Calumet Specialty Products Partners currently has a consensus rating of "Hold" and a consensus price target of $19.80.
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Calumet Specialty Products Partners Stock Up 8.3 %
NASDAQ:CLMT traded up $0.76 during trading hours on Wednesday, reaching $9.91. 1,275,814 shares of the stock were exchanged, compared to its average volume of 802,134. Calumet Specialty Products Partners has a twelve month low of $7.68 and a twelve month high of $25.29. The business has a 50-day moving average of $13.25 and a two-hundred day moving average of $17.90. The company has a market capitalization of $851.31 million, a price-to-earnings ratio of -3.59 and a beta of 1.42.
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 (EPS) for the quarter, beating analysts' consensus estimates of ($1.06) by $0.59. The company had revenue of $949.50 million during the quarter, compared to analysts' expectations of $921.76 million. The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.59) earnings per share. On average, research 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 related news, Director Stephen P. Mawer sold 3,655 shares of Calumet Specialty Products Partners stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $12.88, for a total value of $47,076.40. Following the sale, the director now directly owns 287,307 shares in the company, valued at $3,700,514.16. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David Lunin bought 2,500 shares of the firm's 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 completion of the transaction, the chief financial officer now directly owns 2,500 shares in the company, valued at approximately $32,625. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 2.91% of the company's stock.
About Calumet Specialty Products Partners
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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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