Calumet Specialty Products Partners (NASDAQ:CLMT) Rating Increased to Neutral at UBS Group

UBS Group upgraded shares of Calumet Specialty Products Partners (NASDAQ:CLMT) from a sell rating to a neutral rating in a research report report published on Monday morning, MarketBeat reports. UBS Group currently has $12.00 target price on the oil and gas company’s stock, down from their previous target price of $15.00.

Other equities research analysts also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and issued a $33.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd. TD Cowen downgraded shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and lowered their target price for the company from $26.00 to $16.00 in a research note on Tuesday, March 4th. StockNews.com raised shares of Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company lowered their target price on shares of 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.80.

Calumet Specialty Products Partners Trading Up 9.4 %

Shares of Calumet Specialty Products Partners stock opened at $13.19 on Monday. 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 $1.13 billion, a price-to-earnings ratio of -4.78 and a beta of 1.88. The company’s 50-day moving average price is $16.05 and its 200-day moving average price is $18.76.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.59. The firm had revenue of $949.50 million during the quarter, compared to analysts’ expectations of $921.76 million. During the same period in the previous year, the company posted ($0.59) earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts predict that Calumet Specialty Products Partners will post -3.02 earnings per share for the current year.

Insiders Place Their Bets

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of Calumet Specialty Products Partners stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 of the company’s stock, valued at approximately $25,373,896.38. This trade represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David Lunin bought 2,500 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $13.05 per share, for a total transaction of $32,625.00. Following the acquisition, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at approximately $32,625. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 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.