Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Down 5.2% – Time to Sell?

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) fell 5.2% on Friday . The company traded as low as $12.63 and last traded at $12.69. 412,451 shares traded hands during trading, a decline of 40% from the average session volume of 684,999 shares. The stock had previously closed at $13.38.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CLMT. UBS Group raised Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $15.00 to $12.00 in a research report on Monday. Wells Fargo & Company reduced their price objective on Calumet Specialty Products Partners from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. TD Cowen lowered Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and reduced their price objective for the company from $26.00 to $16.00 in a research report on Tuesday, March 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.80.

Calumet Specialty Products Partners Trading Down 4.5 %

The stock has a market capitalization of $1.10 billion, a PE ratio of -4.62 and a beta of 1.88. The stock has a 50 day moving average price of $15.55 and a 200-day moving average price of $18.65.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.59. The firm had revenue of $949.50 million during the quarter, compared to analysts’ expectations of $921.76 million. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.59) earnings per share. Research analysts forecast that Calumet Specialty Products Partners, L.P. 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 the stock in a transaction that occurred on 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.91% of the company’s stock.

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.