Wells Fargo & Company Lowers Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target to $28.00

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

Other analysts have also issued reports about the stock. HC Wainwright restated a “buy” rating and issued a $33.00 price target on shares of Calumet Specialty Products Partners in a research report on Monday. TD Cowen lowered shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and lowered their price target for the company from $26.00 to $16.00 in a report on Tuesday. UBS Group lowered shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $20.50 to $15.00 in a research report on Tuesday, February 4th. Finally, StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.40.

Calumet Specialty Products Partners Price Performance

NASDAQ:CLMT traded down $0.06 during midday trading on Wednesday, reaching $12.98. The stock had a trading volume of 1,389,315 shares, compared to its average volume of 1,468,123. The firm’s fifty day simple moving average is $17.83 and its 200-day simple moving average is $19.20. The stock has a market capitalization of $1.12 billion, a P/E ratio of -4.70 and a beta of 1.88. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its earnings results on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.59. The business had revenue of $949.50 million during the quarter, compared to analyst estimates of $921.76 million. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business earned ($0.59) EPS. On average, equities research analysts anticipate that Calumet Specialty Products Partners will post -3.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO David Lunin purchased 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $13.05 per share, with a total value of $32,625.00. Following the acquisition, the chief financial officer now owns 2,500 shares of the company’s stock, valued at $32,625. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jennifer Straumins sold 37,861 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total transaction of $810,982.62. Following the sale, the director now directly owns 1,184,589 shares in the company, valued at $25,373,896.38. The trade was a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.