Calumet Specialty Products Partners (NASDAQ:CLMT) Stock Rating Lowered by UBS Group

Calumet Specialty Products Partners (NASDAQ:CLMT) was downgraded by stock analysts at UBS Group from a “neutral” rating to a “sell” rating in a report issued on Tuesday, Marketbeat reports. They presently have a $15.00 price objective on the oil and gas company’s stock, down from their prior price objective of $20.50. UBS Group’s price objective suggests a potential downside of 9.86% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. Wells Fargo & Company boosted their price objective on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. TD Cowen reduced 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 report on Monday, November 11th. Finally, HC Wainwright boosted their price target on shares of Calumet Specialty Products Partners from $25.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.60.

Calumet Specialty Products Partners Trading Down 2.1 %

Shares of CLMT opened at $16.64 on Tuesday. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $25.29. The company has a market cap of $1.43 billion, a PE ratio of -6.03 and a beta of 1.88. The stock has a 50-day moving average price of $20.08 and a 200-day moving average price of $18.87.

Calumet Specialty Products Partners (NASDAQ:CLMT) 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 for the quarter, compared to analysts’ expectations of $888.36 million. During the same quarter in the prior year, the business posted $0.03 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, analysts predict that Calumet Specialty Products Partners will post -3.02 earnings per share for the current year.

Insider Activity at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.42, for a total value of $810,982.62. Following the transaction, the director now owns 1,184,589 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. 2.91% of the stock is currently owned by company insiders.

Institutional Trading of Calumet Specialty Products Partners

An institutional investor recently raised its position in Calumet Specialty Products Partners stock. Creative Planning raised its holdings in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 46.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 about 0.08% of Calumet Specialty Products Partners worth $1,002,000 at the end of the most recent quarter. Institutional investors own 34.41% of the company’s stock.

About Calumet Specialty Products Partners

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.