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

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) saw some unusual options trading activity on Monday. Investors bought 35,552 call options on the company. This represents an increase of 330% compared to the typical daily volume of 8,270 call options.

Insider Activity at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total value of $810,982.62. Following the sale, the director now owns 1,184,589 shares of the company’s stock, valued at $25,373,896.38. This trade represents a 3.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.91% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CLMT has been the subject of several research reports. HC Wainwright upped their target price on shares of Calumet Specialty Products Partners from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. StockNews.com upgraded shares of Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. 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. Wells Fargo & Company boosted their price target 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. Finally, UBS Group downgraded Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $20.50 to $15.00 in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, Calumet Specialty Products Partners presently has an average rating of “Hold” and a consensus price target of $23.60.

Calumet Specialty Products Partners Price Performance

Shares of NASDAQ CLMT opened at $16.16 on Tuesday. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 year high of $25.29. The company’s 50-day moving average is $19.71 and its 200 day moving average is $18.99. The stock has a market capitalization of $1.39 billion, a P/E ratio of -5.86 and a beta of 1.88.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $888.36 million. During the same quarter in the previous year, the company earned $0.03 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts anticipate that Calumet Specialty Products Partners will post -3.02 earnings per share for the current year.

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.