Calumet Specialty Products Partners (NASDAQ:CLMT) Upgraded at StockNews.com

Calumet Specialty Products Partners (NASDAQ:CLMT) was upgraded by research analysts at StockNews.com to a “sell” rating in a report released on Monday.

A number of other research analysts have also recently commented on CLMT. TD Cowen reduced their price objective 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. The Goldman Sachs Group reduced their price target on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. 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 report on Monday, October 21st. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.75.

Calumet Specialty Products Partners Stock Performance

NASDAQ CLMT traded down $0.35 during trading hours on Monday, hitting $20.57. 526,003 shares of the company’s stock were exchanged, compared to its average volume of 398,026. The firm has a market capitalization of $1.77 billion, a P/E ratio of -7.45 and a beta of 1.90. The business’s 50 day moving average is $19.65 and its 200-day moving average is $17.17. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $888.36 million. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $0.03 EPS. As a group, equities research analysts anticipate that Calumet Specialty Products Partners will post -2.87 EPS for the current fiscal year.

Insider Activity

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of Calumet Specialty Products Partners stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $20.59, for a total transaction of $2,059,000.00. Following the sale, the director now owns 1,388,529 shares of the company’s stock, valued at $28,589,812.11. The trade was a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.91% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Wasserstein Debt Opportunities Management L.P. grew its position in Calumet Specialty Products Partners by 2.9% in the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock valued at $110,606,000 after buying an additional 193,063 shares in the last quarter. Raymond James & Associates increased its stake in shares of Calumet Specialty Products Partners by 13.4% during the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock valued at $9,182,000 after acquiring an additional 67,689 shares during the period. DRW Securities LLC bought a new stake in Calumet Specialty Products Partners during the second quarter worth approximately $898,000. Creative Planning lifted its position 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 during the period. Finally, Wedbush Securities Inc. bought a new position in Calumet Specialty Products Partners during the 2nd quarter valued at $169,000. 34.41% of the stock is owned by institutional investors and hedge funds.

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.