Calumet Specialty Products Partners (NASDAQ:CLMT) Announces Earnings Results

Calumet Specialty Products Partners (NASDAQ:CLMT) posted its earnings results on Friday. The oil and gas company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.59, Zacks reports. The firm had revenue of $949.50 million for the quarter, compared to analysts’ expectations of $921.76 million. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.59) earnings per share.

Calumet Specialty Products Partners Price Performance

Shares of NASDAQ:CLMT opened at $14.33 on Friday. The firm has a market capitalization of $1.23 billion, a PE ratio of -5.19 and a beta of 1.88. The business has a 50-day moving average of $18.11 and a two-hundred day moving average of $19.21. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $25.29.

Insiders Place Their Bets

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total transaction of $810,982.62. Following the completion of the sale, the director now directly owns 1,184,589 shares in the company, valued at $25,373,896.38. This represents a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.91% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on CLMT. TD Cowen decreased their target price on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of Calumet Specialty Products Partners in a research report on Wednesday, February 12th. UBS Group downgraded Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $20.50 to $15.00 in a research report on Tuesday, February 4th. Finally, StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.60.

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.