Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) shares shot up 4.4% during mid-day trading on Friday . The stock traded as high as $21.40 and last traded at $21.40. 101,944 shares changed hands during trading, a decline of 74% from the average session volume of 394,457 shares. The stock had previously closed at $20.49.
Analyst Ratings Changes
CLMT has been the topic of a number of research reports. TD Cowen cut their target price on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, November 11th. HC Wainwright restated a "buy" rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, November 11th. Wells Fargo & Company increased their target price on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. The Goldman Sachs Group dropped their target price on Calumet Specialty Products Partners from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, August 5th. Finally, StockNews.com started coverage on Calumet Specialty Products Partners in a report on Wednesday, October 23rd. They issued a "sell" rating for the company. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.75.
Get Our Latest Stock Report on CLMT
Calumet Specialty Products Partners Price Performance
The business has a fifty day moving average of $19.56 and a 200 day moving average of $17.13. The stock has a market cap of $1.80 billion, a PE ratio of -7.58 and a beta of 1.90.
Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share for the quarter, missing analysts' consensus estimates 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. During the same quarter last year, the firm earned $0.03 EPS. The company's revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities research analysts expect that Calumet Specialty Products Partners, L.P. will post -2.87 EPS for the current year.
Insider Activity at Calumet Specialty Products Partners
In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $20.59, for a total value of $2,059,000.00. Following the completion of the sale, the director now directly owns 1,388,529 shares in the company, valued at $28,589,812.11. This represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.91% of the company's stock.
Institutional Trading of Calumet Specialty Products Partners
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wasserstein Debt Opportunities Management L.P. raised its holdings in shares of Calumet Specialty Products Partners by 2.9% in the 2nd 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. Raymond James & Associates increased its holdings in shares of Calumet Specialty Products Partners by 13.4% in the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company's stock valued at $9,182,000 after buying an additional 67,689 shares in the last quarter. DRW Securities LLC acquired a new stake in shares of Calumet Specialty Products Partners during the 2nd quarter valued at $898,000. Creative Planning grew its holdings in shares of Calumet Specialty Products Partners by 46.4% in the 2nd quarter. Creative Planning now owns 62,459 shares of the oil and gas company's stock worth $1,002,000 after acquiring an additional 19,800 shares during the last quarter. Finally, Wedbush Securities Inc. acquired a new stake in shares of Calumet Specialty Products Partners during the second quarter worth $169,000. Institutional investors own 34.41% of the company's stock.
About Calumet Specialty Products Partners
(
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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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