Traders Purchase Large Volume of Call Options on Calumet Specialty Products Partners (NASDAQ:CLMT)

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) was the target of some unusual options trading on Monday. Investors bought 35,552 call options on the company. This is an increase of approximately 330% compared to the average daily volume of 8,270 call options.

Insider Activity

In related news, Director Jennifer Straumins sold 37,861 shares of Calumet Specialty Products Partners stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total value of $810,982.62. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wells Fargo & Company boosted their price objective on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. HC Wainwright boosted their price objective on Calumet Specialty Products Partners from $25.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. UBS Group cut Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and cut their price target for the stock from $20.50 to $15.00 in a research note on Tuesday, February 4th. StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. Finally, TD Cowen cut their price target on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Calumet Specialty Products Partners presently has an average rating of “Hold” and an average target price of $23.60.

Calumet Specialty Products Partners Trading Up 3.1 %

Calumet Specialty Products Partners stock traded up $0.50 during midday trading on Monday, hitting $16.71. The stock had a trading volume of 472,843 shares, compared to its average volume of 1,383,785. The stock has a market cap of $1.44 billion, a P/E ratio of -6.03 and a beta of 1.88. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $25.29. The business has a fifty day moving average price of $19.83 and a 200 day moving average price of $18.96.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data 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 company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $888.36 million. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 earnings per share. On average, equities analysts anticipate that Calumet Specialty Products Partners will post -3.02 EPS for the current fiscal year.

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.