Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report)'s share price dropped 8% during trading on Tuesday . The company traded as low as $15.63 and last traded at $14.94. Approximately 237,112 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,340,679 shares. The stock had previously closed at $16.23.
Analyst Ratings Changes
Several analysts recently weighed in on the company. StockNews.com upgraded Calumet Specialty Products Partners to a "sell" rating in a report on Monday, November 18th. HC Wainwright raised their price target on Calumet Specialty Products Partners from $25.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. TD Cowen reduced their target price on Calumet Specialty Products Partners from $27.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, November 11th. Finally, Wells Fargo & Company boosted their target price on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Calumet Specialty Products Partners has a consensus rating of "Moderate Buy" and a consensus price target of $25.75.
Get Our Latest Research Report on Calumet Specialty Products Partners
Calumet Specialty Products Partners Stock Up 6.0 %
The firm has a 50 day moving average of $20.46 and a 200-day moving average of $18.79. The company has a market cap of $1.53 billion, a P/E ratio of -6.44 and a beta of 1.90.
Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. The company's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 earnings per share. On average, research analysts predict that Calumet Specialty Products Partners, L.P. will post -3.02 EPS for the current fiscal year.
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 shares were 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 in the company, valued at approximately $25,373,896.38. This represents a 3.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.91% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Calumet Specialty Products Partners
An institutional investor recently raised its position in Calumet Specialty Products Partners stock. Creative Planning increased its stake in shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Free Report) by 46.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,459 shares of the oil and gas company's stock after acquiring 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 filing with the Securities & Exchange Commission. 34.41% of the stock is currently owned by institutional investors and hedge funds.
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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