Calumet Specialty Products Partners (NASDAQ:CLMT) Trading Down 15.5% - What's Next?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report)'s share price traded down 15.5% during trading on Friday . The stock traded as low as $10.50 and last traded at $10.11. 73,969 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 747,512 shares. The stock had previously closed at $11.96.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CLMT. UBS Group raised shares of Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and dropped their price target for the stock from $15.00 to $12.00 in a research report on Monday, March 17th. TD Cowen lowered shares of Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and dropped their price objective for the company from $26.00 to $16.00 in a research note on Tuesday, March 4th. Wells Fargo & Company cut their price target 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. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $33.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Calumet Specialty Products Partners currently has a consensus rating of "Hold" and a consensus price target of $20.80.

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Calumet Specialty Products Partners Trading Up 0.8 %

The company has a market cap of $844.44 million, a price-to-earnings ratio of -3.56 and a beta of 1.42. The firm has a 50-day moving average price of $14.13 and a 200 day moving average price of $18.24.

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) EPS for the quarter, topping analysts' consensus estimates of ($1.06) by $0.59. The business had revenue of $949.50 million during the quarter, compared to analyst estimates of $921.76 million. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.59) EPS. Research analysts anticipate that Calumet Specialty Products Partners, L.P. will post -3.02 earnings per share for the current fiscal year.

Insider Activity

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