Wells Fargo & Company Issues Pessimistic Forecast for Calumet Specialty Products Partners (NASDAQ:CLMT) Stock Price

Calumet Specialty Products Partners (NASDAQ:CLMT) had its price objective cut by investment analysts at Wells Fargo & Company from $29.00 to $28.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 124.90% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of Calumet Specialty Products Partners in a report on Monday. TD Cowen downgraded Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and lowered their price target for the stock from $26.00 to $16.00 in a research report on Tuesday. UBS Group cut shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and cut their price objective for the company from $20.50 to $15.00 in a research report on Tuesday, February 4th. Finally, StockNews.com upgraded shares of Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $21.40.

Calumet Specialty Products Partners Stock Down 4.1 %

Calumet Specialty Products Partners stock opened at $12.45 on Wednesday. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $25.29. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -4.51 and a beta of 1.88. The firm’s fifty day moving average is $17.68 and its 200 day moving average is $19.15.

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

Insider Buying and Selling

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the stock in a transaction dated 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 in the company, valued at $25,373,896.38. This represents a 3.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Lunin bought 2,500 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $13.05 per share, for a total transaction of $32,625.00. Following the transaction, the chief financial officer now directly owns 2,500 shares in the company, valued at approximately $32,625. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 2.91% of the stock is currently owned by insiders.

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.