Calumet Specialty Products Partners (NASDAQ:CLMT) Posts Earnings Results

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) released its quarterly earnings results on Friday. The oil and gas company reported ($0.47) earnings per share for the quarter, beating analysts' consensus estimates of ($1.06) by $0.59, Zacks reports. The firm had revenue of $949.50 million for the quarter, compared to analysts' expectations of $921.76 million. During the same quarter in the previous year, the business earned ($0.59) EPS. The company's revenue for the quarter was down 2.8% on a year-over-year basis.

Calumet Specialty Products Partners Price Performance

CLMT traded down $0.42 during midday trading on Tuesday, reaching $13.04. 2,723,281 shares of the company's stock traded hands, compared to its average volume of 1,469,918. The firm has a fifty day moving average of $17.98 and a two-hundred day moving average of $19.22. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -4.72 and a beta of 1.88. Calumet Specialty Products Partners has a 52 week low of $9.97 and a 52 week high of $25.29.

Insider Buying and Selling 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.91% of the stock is currently owned by corporate insiders.

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Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. HC Wainwright reiterated a "buy" rating and issued a $33.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday. UBS Group downgraded Calumet Specialty Products Partners from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $20.50 to $15.00 in a report on Tuesday, February 4th. StockNews.com upgraded Calumet Specialty Products Partners to a "sell" rating in a report on Monday, November 18th. Finally, TD Cowen downgraded Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $26.00 to $16.00 in a report on Tuesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Calumet Specialty Products Partners currently has an average rating of "Hold" and an average price target of $21.60.

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.