Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report)'s stock price rose 4.7% during trading on Wednesday . The company traded as high as $15.73 and last traded at $15.71. Approximately 577,525 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 1,382,509 shares. The stock had previously closed at $15.01.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Calumet Specialty Products Partners to a "sell" rating in a research note on Monday, November 18th. HC Wainwright lifted their price objective on shares of Calumet Specialty Products Partners from $25.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Wells Fargo & Company boosted their price target on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Finally, TD Cowen dropped their price target on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.75.
Check Out Our Latest Analysis on CLMT
Calumet Specialty Products Partners Trading Up 12.4 %
The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -6.11 and a beta of 1.90. The firm has a 50-day moving average of $20.63 and a two-hundred day moving average of $18.82.
Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last posted its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $888.36 million. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. As a group, equities analysts anticipate that Calumet Specialty Products Partners, L.P. will post -3.02 EPS for the current year.
Insider Transactions at Calumet Specialty Products Partners
In other news, Director Jennifer Straumins sold 37,861 shares of Calumet Specialty Products Partners 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 sale, the director now owns 1,184,589 shares of the company's stock, valued at approximately $25,373,896.38. This trade represents a 3.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.91% of the company's stock.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Calumet Specialty Products Partners stock. Creative Planning grew its holdings in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Free Report) by 46.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,459 shares of the oil and gas company's stock after buying an additional 19,800 shares during the quarter. Creative Planning owned 0.08% of Calumet Specialty Products Partners worth $1,002,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 34.41% of the company's stock.
Calumet Specialty Products Partners Company Profile
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Calumet Specialty Products Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Calumet Specialty Products Partners wasn't on the list.
While Calumet Specialty Products Partners currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
