Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Up 3.7% – What’s Next?

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) were up 3.7% during trading on Wednesday . The company traded as high as $12.60 and last traded at $12.69. Approximately 73,200 shares were traded during trading, a decline of 90% from the average daily volume of 700,350 shares. The stock had previously closed at $12.23.

Analysts Set New Price Targets

Several research firms have recently weighed in on CLMT. UBS Group upgraded Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $15.00 to $12.00 in a report on Monday, March 17th. TD Cowen cut shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and decreased their price target for the company from $26.00 to $16.00 in a research report on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and set a $33.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of Calumet Specialty Products Partners from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.80.

Calumet Specialty Products Partners Trading Up 10.0 %

The business’s 50-day simple moving average is $14.82 and its two-hundred day simple moving average is $18.47. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -4.87 and a beta of 1.88.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings data on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.59. The firm had revenue of $949.50 million for the quarter, compared to analyst estimates of $921.76 million. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.59) earnings per share. On average, analysts forecast that Calumet Specialty Products Partners, L.P. will post -3.02 earnings per share for the current fiscal year.

Insider Transactions at Calumet Specialty Products Partners

In other news, Director Stephen P. Mawer sold 3,655 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $12.88, for a total transaction of $47,076.40. Following the completion of the sale, the director now owns 287,307 shares of the company’s stock, valued at $3,700,514.16. This trade represents a 1.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO David Lunin acquired 2,500 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $13.05 per share, with a total value of $32,625.00. Following the purchase, the chief financial officer now directly owns 2,500 shares in the company, valued at $32,625. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.