Calumet Specialty Products Partners (NASDAQ:CLMT) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of Calumet Specialty Products Partners (NASDAQ:CLMT) to a sell rating in a research report report published on Monday.

A number of other brokerages have also weighed in on CLMT. TD Cowen dropped their target price on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Wells Fargo & Company lifted their target price on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, November 11th. Finally, The Goldman Sachs Group reduced their price objective on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Calumet Specialty Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $23.75.

Calumet Specialty Products Partners Price Performance

NASDAQ:CLMT opened at $20.57 on Monday. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $25.29. The business has a fifty day moving average price of $19.65 and a 200-day moving average price of $17.17. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -7.45 and a beta of 1.90.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued 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 business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $888.36 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. Calumet Specialty Products Partners’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities research analysts expect that Calumet Specialty Products Partners will post -2.87 earnings per share for the current fiscal year.

Insider Activity at Calumet Specialty Products Partners

In related news, Director Jennifer Straumins sold 100,000 shares of Calumet Specialty Products Partners stock in a transaction dated 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 transaction, the director now directly owns 1,388,529 shares of the company’s stock, valued at approximately $28,589,812.11. The trade was a 6.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Wedbush Securities Inc. bought a new stake in shares of Calumet Specialty Products Partners during the 2nd quarter worth approximately $169,000. Sapient Capital LLC increased its stake in Calumet Specialty Products Partners by 9.5% in the second quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock worth $185,000 after purchasing an additional 1,000 shares during the period. ARS Investment Partners LLC lifted its position in shares of Calumet Specialty Products Partners by 16.7% during the second quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock worth $506,000 after purchasing an additional 4,500 shares during the last quarter. Founders Financial Alliance LLC boosted its stake in shares of 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 valued at $777,000 after purchasing an additional 3,750 shares during the period. Finally, FAS Wealth Partners Inc. grew its stake in Calumet Specialty Products Partners by 4.5% in the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock worth $869,000 after acquiring an additional 2,308 shares in the last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.

About Calumet Specialty Products Partners

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.