Calumet Specialty Products Partners Sees Unusually Large Options Volume (NASDAQ:CLMT)

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) was the target of unusually large options trading on Wednesday. Stock traders acquired 32,005 call options on the company. This represents an increase of 442% compared to the typical volume of 5,902 call options.

Insider Transactions at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the company's stock in a transaction 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 transaction, the director now directly owns 1,184,589 shares in the company, valued at $25,373,896.38. This represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.91% of the company's stock.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently made changes to their positions in CLMT. DRW Securities LLC purchased a new position in Calumet Specialty Products Partners in the second quarter valued at approximately $898,000. Creative Planning raised its stake in Calumet Specialty Products Partners by 46.4% during 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 in the last quarter. Wedbush Securities Inc. purchased a new stake in Calumet Specialty Products Partners in the second quarter valued at $169,000. Finally, Founders Financial Alliance LLC boosted its stake in Calumet Specialty Products Partners by 8.4% in 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 acquiring an additional 3,750 shares in the last quarter. Institutional investors and hedge funds own 34.41% of the company's stock.

Wall Street Analysts Forecast Growth

CLMT has been the subject of a number of research analyst reports. StockNews.com upgraded Calumet Specialty Products Partners to a "sell" rating in a report on Monday, November 18th. TD Cowen dropped their price objective on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a "buy" rating for the company in a report on Monday, November 11th. HC Wainwright reaffirmed a "buy" rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday, November 11th. Finally, Wells Fargo & Company raised their price target on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $23.75.

Calumet Specialty Products Partners Stock Up 0.3 %

Calumet Specialty Products Partners stock traded up $0.07 during trading on Wednesday, reaching $21.38. The stock had a trading volume of 487,193 shares, compared to its average volume of 753,699. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $25.29. The stock has a market cap of $1.84 billion, a PE ratio of -7.75 and a beta of 1.90. The business has a 50 day moving average price of $21.38 and a 200 day moving average price of $18.59.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $888.36 million. During the same period in the prior year, the business posted $0.03 earnings per share. The company's revenue was down 4.3% on a year-over-year basis. On average, equities analysts predict that Calumet Specialty Products Partners will post -2.87 EPS for the current fiscal year.

Calumet Specialty Products Partners Company Profile

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.