Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Gap Up - What's Next?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $12.06, but opened at $12.73. Calumet Specialty Products Partners shares last traded at $12.99, with a volume of 92,676 shares traded.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. HC Wainwright restated 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. UBS Group raised Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and cut their target price for the stock from $15.00 to $12.00 in a research note on Monday. TD Cowen lowered Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and lowered their price target for the stock from $26.00 to $16.00 in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company cut their price objective on shares of Calumet Specialty Products Partners from $29.00 to $28.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $20.80.

Calumet Specialty Products Partners Stock Performance

The stock has a 50-day simple moving average of $15.55 and a two-hundred day simple moving average of $18.65. The firm has a market cap of $1.09 billion, a PE ratio of -4.61 and a beta of 1.88.

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Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last released its quarterly earnings data on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.59. The company had revenue of $949.50 million for the quarter, compared to analysts' expectations of $921.76 million. During the same period in the previous year, the firm earned ($0.59) earnings per share. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Calumet Specialty Products Partners, L.P. will post -3.02 EPS for the current fiscal year.

Insider Transactions at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, CFO David Lunin acquired 2,500 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $13.05 per share, with a total value of $32,625.00. Following the completion of the acquisition, the chief financial officer now owns 2,500 shares in the company, valued at $32,625. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.91% of the company's stock.

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.