Calumet Specialty Products Partners (NASDAQ:CLMT) Lowered to Hold Rating by TD Cowen

TD Cowen cut shares of Calumet Specialty Products Partners (NASDAQ:CLMT) from a buy rating to a hold rating in a report issued on Tuesday morning, MarketBeat Ratings reports. TD Cowen currently has $16.00 price objective on the oil and gas company’s stock, down from their prior price objective of $26.00.

CLMT has been the topic of several other reports. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 target price on shares of Calumet Specialty Products Partners in a report on Monday. UBS Group cut Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $20.50 to $15.00 in a report on Tuesday, February 4th. Finally, StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $21.60.

Calumet Specialty Products Partners Stock Down 3.1 %

NASDAQ:CLMT opened at $13.04 on Tuesday. The business’s 50-day simple moving average is $17.98 and its two-hundred day simple moving average is $19.22. The stock has a market cap of $1.12 billion, a PE ratio of -4.72 and a beta of 1.88. Calumet Specialty Products Partners has a 52 week low of $9.97 and a 52 week high of $25.29.

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

Insider Buying and Selling

In related news, Director Jennifer Straumins sold 37,861 shares of Calumet Specialty Products Partners 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 completion of the transaction, the director now owns 1,184,589 shares in the company, 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 is accessible through this hyperlink. 2.91% of the stock is currently owned by company insiders.

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.