Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Receives $23.60 Consensus PT from Brokerages

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) have been given an average rating of “Moderate Buy” by the five research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $23.60.

A number of equities research analysts have recently issued reports on CLMT shares. StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. Wells Fargo & Company lifted their target price on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. TD Cowen dropped their price target on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, November 11th. HC Wainwright boosted their price objective on shares of Calumet Specialty Products Partners from $25.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, UBS Group lowered shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $20.50 to $15.00 in a report on Tuesday.

Calumet Specialty Products Partners Trading Down 0.8 %

CLMT stock opened at $16.51 on Tuesday. The firm has a 50 day moving average of $19.96 and a 200-day moving average of $18.86. The firm has a market capitalization of $1.42 billion, a P/E ratio of -5.98 and a beta of 1.88. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its earnings results 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 business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $888.36 million. Calumet Specialty Products Partners’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. Sell-side analysts predict that Calumet Specialty Products Partners will post -3.02 EPS for the current year.

Insider Transactions at Calumet Specialty Products Partners

In other news, Director Jennifer Straumins sold 37,861 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total value 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 trade represents a 3.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.91% of the company’s stock.

Institutional Investors Weigh In On Calumet Specialty Products Partners

An institutional investor recently raised its position in Calumet Specialty Products Partners stock. Creative Planning raised its holdings in shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 46.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,459 shares of the oil and gas company’s stock after acquiring an additional 19,800 shares during the quarter. Creative Planning owned approximately 0.08% of Calumet Specialty Products Partners worth $1,002,000 as of its most recent SEC filing. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

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.