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

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) fell 5.2% on Friday . The stock 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

CLMT has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and set a $33.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd. UBS Group raised Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and decreased their price target for the company from $15.00 to $12.00 in a report on Monday. Wells Fargo & Company decreased their price target on Calumet Specialty Products Partners from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, TD Cowen cut 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 report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.80.

Calumet Specialty Products Partners Stock Down 4.5 %

The company has a fifty day moving average price of $15.55 and a 200-day moving average price of $18.65. The stock has a market capitalization of $1.10 billion, a P/E ratio of -4.62 and a beta of 1.88.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its earnings results on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.59. The firm had revenue of $949.50 million during the quarter, compared to the consensus estimate of $921.76 million. During the same period last year, the firm posted ($0.59) earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, research analysts expect that Calumet Specialty Products Partners, L.P. will post -3.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO David Lunin purchased 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price 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 in the company, valued at approximately $32,625. The trade was a ? increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 2.91% of the stock is currently owned by company insiders.

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.