Calumet Specialty Products Partners (NASDAQ:CLMT) Stock Rating Upgraded by StockNews.com

Calumet Specialty Products Partners (NASDAQ:CLMT) was upgraded by analysts at StockNews.com to a “sell” rating in a report released on Monday.

CLMT has been the topic of a number of other reports. TD Cowen lowered their price target 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. Wells Fargo & Company increased 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. The Goldman Sachs Group cut their price target on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Finally, HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $23.75.

Calumet Specialty Products Partners Stock Up 1.0 %

Calumet Specialty Products Partners stock opened at $20.79 on Monday. The business has a fifty day moving average of $19.75 and a two-hundred day moving average of $17.21. Calumet Specialty Products Partners has a twelve month low of $9.97 and a twelve month high of $25.29. The firm has a market cap of $1.79 billion, a P/E ratio of -7.53 and a beta of 1.90.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $888.36 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. Calumet Specialty Products Partners’s revenue was down 4.3% on a year-over-year basis. Equities analysts expect that Calumet Specialty Products Partners will post -2.87 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jennifer Straumins sold 100,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $20.59, for a total transaction of $2,059,000.00. Following the completion of the sale, the director now owns 1,388,529 shares of the company’s stock, valued at $28,589,812.11. This represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Founders Financial Alliance LLC lifted its position in Calumet Specialty Products Partners by 8.4% during the second quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock worth $777,000 after buying an additional 3,750 shares in the last quarter. Creative Planning boosted its position in shares of 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 valued at $1,002,000 after acquiring an additional 19,800 shares during the last quarter. DRW Securities LLC acquired a new stake in Calumet Specialty Products Partners during the second quarter worth about $898,000. Wedbush Securities Inc. acquired a new position in Calumet Specialty Products Partners in the 2nd quarter valued at about $169,000. Finally, Wasserstein Debt Opportunities Management L.P. grew its stake 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 valued at $110,606,000 after buying an additional 193,063 shares during the period. 34.41% of the stock is owned by hedge funds and other institutional investors.

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.