Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Up 3.7% - Time to Buy?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report)'s share price was up 3.7% on Wednesday . The stock traded as high as $12.60 and last traded at $12.69. Approximately 73,200 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 700,350 shares. The stock had previously closed at $12.23.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Calumet Specialty Products Partners from $29.00 to $28.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. UBS Group raised Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $15.00 to $12.00 in a research note on Monday, March 17th. HC Wainwright reissued a "buy" rating and set a $33.00 price objective 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 decreased their target price for the stock from $26.00 to $16.00 in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $20.80.

Calumet Specialty Products Partners Stock Down 2.2 %

The company has a market cap of $1.13 billion, a P/E ratio of -4.77 and a beta of 1.88. The business has a fifty day moving average of $14.72 and a 200 day moving average of $18.47.

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

Insiders Place Their Bets

In other Calumet Specialty Products Partners news, Director Stephen P. Mawer sold 3,655 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $12.88, for a total transaction of $47,076.40. Following the completion of the transaction, the director now owns 287,307 shares of the company's stock, valued at approximately $3,700,514.16. This trade represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Lunin purchased 2,500 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $13.05 per share, for a total transaction of $32,625.00. Following the purchase, the chief financial officer now directly owns 2,500 shares in the company, valued at $32,625. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.91% of the stock is owned by corporate insiders.

About Calumet Specialty Products Partners

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.