Calumet Specialty Products Partners (NASDAQ:CLMT) Rating Increased to Neutral at UBS Group

Calumet Specialty Products Partners (NASDAQ:CLMT) was upgraded by stock analysts at UBS Group from a “sell” rating to a “neutral” rating in a report released on Monday, Marketbeat Ratings reports. The firm currently has a $12.00 price objective on the oil and gas company’s stock, down from their previous price objective of $15.00. UBS Group’s price target suggests a potential downside of 6.61% from the stock’s current price.

A number of other research firms have also recently weighed in on CLMT. StockNews.com raised shares of Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. TD Cowen cut shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and lowered their target price for the company from $26.00 to $16.00 in a research note on Tuesday, March 4th. HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday, March 3rd. Finally, Wells Fargo & Company reduced their price target on shares of Calumet Specialty Products Partners from $29.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.80.

Calumet Specialty Products Partners Price Performance

Shares of CLMT opened at $12.85 on Monday. The company’s fifty day moving average price is $15.88 and its 200 day moving average price is $18.72. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $25.29. The company has a market capitalization of $1.10 billion, a PE ratio of -4.66 and a beta of 1.88.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings data 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 company had revenue of $949.50 million for the quarter, compared to the consensus estimate of $921.76 million. During the same quarter in the previous year, the firm posted ($0.59) EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts anticipate that Calumet Specialty Products Partners will post -3.02 earnings per share for the current year.

Insider Transactions at Calumet Specialty Products Partners

In related news, CFO David Lunin bought 2,500 shares of Calumet Specialty Products Partners stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $13.05 per share, for a total transaction of $32,625.00. Following the completion of the transaction, the chief financial officer now owns 2,500 shares of the company’s stock, valued at approximately $32,625. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.91% of the stock is 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.