Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report)'s stock price was up 1.7% during trading on Friday . The company traded as high as $21.11 and last traded at $20.96. Approximately 66,578 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 426,444 shares. The stock had previously closed at $20.60.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. StockNews.com raised Calumet Specialty Products Partners to a "sell" rating in a research note on Monday, November 18th. HC Wainwright reissued a "buy" rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, November 11th. Wells Fargo & Company raised 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 cut their price objective 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 investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.75.
View Our Latest Research Report on CLMT
Calumet Specialty Products Partners Price Performance
The stock has a market capitalization of $1.82 billion, a PE ratio of -7.67 and a beta of 1.91. The firm has a fifty day moving average price of $21.23 and a two-hundred day moving average price of $18.28.
Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last released its earnings results 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 analyst estimates of $888.36 million. The company's revenue was down 4.3% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. On average, research analysts expect that Calumet Specialty Products Partners, L.P. will post -2.87 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Jennifer Straumins sold 37,861 shares of Calumet Specialty Products Partners stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total value of $810,982.62. Following the completion of the sale, the director now directly owns 1,184,589 shares in the company, valued at $25,373,896.38. The trade was a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.91% of the company's stock.
Institutional Investors Weigh In On Calumet Specialty Products Partners
Several large investors have recently modified their holdings of CLMT. Wedbush Securities Inc. bought a new position in Calumet Specialty Products Partners in the second quarter worth approximately $169,000. Founders Financial Alliance LLC boosted its position in Calumet Specialty Products Partners by 8.4% during the second quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company's stock valued at $777,000 after purchasing an additional 3,750 shares in the last quarter. DRW Securities LLC bought a new stake in Calumet Specialty Products Partners during the second quarter valued at about $898,000. Creative Planning grew its stake in Calumet Specialty Products Partners by 46.4% in the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company's stock valued at $1,002,000 after purchasing an additional 19,800 shares during the last quarter. Finally, Wasserstein Debt Opportunities Management L.P. raised its holdings in Calumet Specialty Products Partners by 2.9% in the second quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company's stock worth $110,606,000 after purchasing an additional 193,063 shares in the last quarter. Institutional investors own 34.41% of the company's stock.
About Calumet Specialty Products Partners
(
Get Free Report)
Calumet, Inc manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Montana/Renewables; and Performance brands segments.
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