Stock Traders Purchase High Volume of Calumet Specialty Products Partners Call Options (NASDAQ:CLMT)

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) was the target of unusually large options trading activity on Wednesday. Traders purchased 32,005 call options on the stock. This represents an increase of approximately 442% compared to the average volume of 5,902 call options.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, November 11th. StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. Finally, TD Cowen dropped their target price on 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. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

Calumet Specialty Products Partners Stock Performance

Shares of NASDAQ:CLMT traded down $0.21 during mid-day trading on Wednesday, reaching $21.10. 172,881 shares of the company’s stock were exchanged, compared to its average volume of 712,240. 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 capitalization of $1.81 billion, a price-to-earnings ratio of -7.64 and a beta of 1.90. The business’s fifty day moving average price is $21.38 and its 200-day moving average price is $18.59.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its earnings results on Friday, November 8th. The oil and gas company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $888.36 million. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 earnings per share. Analysts predict that Calumet Specialty Products Partners will post -2.87 EPS for the current fiscal year.

Insider Buying and Selling

In other 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 value of $810,982.62. Following the completion of the transaction, the director now owns 1,184,589 shares of the company’s stock, valued at approximately $25,373,896.38. This represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Calumet Specialty Products Partners

A number of institutional investors have recently modified their holdings of the company. Wedbush Securities Inc. bought a new stake in Calumet Specialty Products Partners during the second quarter valued at $169,000. Founders Financial Alliance LLC boosted its position in shares of Calumet Specialty Products Partners by 8.4% during the 2nd 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 in the last quarter. DRW Securities LLC acquired a new stake in Calumet Specialty Products Partners during the second quarter worth approximately $898,000. Finally, Creative Planning increased its holdings in Calumet Specialty Products Partners by 46.4% in the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after purchasing an additional 19,800 shares in the last quarter. 34.41% of the stock is owned by 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.