Calumet Specialty Products Partners (NASDAQ:CLMT) Given New $28.00 Price Target at Wells Fargo & Company

Calumet Specialty Products Partners (NASDAQ:CLMT) had its price objective dropped by Wells Fargo & Company from $29.00 to $28.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 115.72% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. StockNews.com raised shares of Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. HC Wainwright reissued a “buy” rating and set a $33.00 price target on shares of Calumet Specialty Products Partners in a research report on Monday. UBS Group cut shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $20.50 to $15.00 in a research note on Tuesday, February 4th. Finally, TD Cowen downgraded Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $26.00 to $16.00 in a report on Tuesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.40.

Calumet Specialty Products Partners Stock Performance

Shares of CLMT traded down $0.06 during mid-day trading on Wednesday, hitting $12.98. 1,389,315 shares of the company were exchanged, compared to its average volume of 1,468,123. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $25.29. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -4.70 and a beta of 1.88. The company has a 50 day moving average of $17.83 and a 200-day moving average of $19.20.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, February 28th. The oil and gas company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.59. The company had revenue of $949.50 million during the quarter, compared to analyst estimates of $921.76 million. The business’s 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. Research analysts anticipate that Calumet Specialty Products Partners will post -3.02 earnings per share for the current fiscal year.

Insider Activity

In other Calumet Specialty Products Partners news, CFO David Lunin acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was purchased 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 owns 2,500 shares of the company’s stock, valued at $32,625. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer Straumins sold 37,861 shares of the company’s 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 in the company, valued at $25,373,896.38. This represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. 2.91% of the stock is currently owned by company 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.