Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Given Average Rating of “Buy” by Brokerages

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) have been assigned a consensus recommendation of “Buy” from the four analysts that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $23.75.

CLMT has been the subject of several research analyst reports. HC Wainwright reaffirmed 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. Wells Fargo & Company raised their price objective on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. StockNews.com upgraded shares of Calumet Specialty Products Partners to a “sell” rating in a research note on Monday. The Goldman Sachs Group decreased their price target on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Finally, TD Cowen dropped 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.

Insider Buying and Selling

In related news, Director Jennifer Straumins sold 100,000 shares of the stock in a transaction dated 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 approximately $28,589,812.11. This represents a 6.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.91% of the stock is owned by insiders.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wedbush Securities Inc. bought a new position in shares of Calumet Specialty Products Partners in the second quarter valued at approximately $169,000. Sapient Capital LLC grew its position in shares of Calumet Specialty Products Partners by 9.5% during the 2nd quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock valued at $185,000 after purchasing an additional 1,000 shares in the last quarter. ARS Investment Partners LLC increased its holdings in shares of Calumet Specialty Products Partners by 16.7% in the second quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock worth $506,000 after purchasing an additional 4,500 shares during the period. Founders Financial Alliance LLC raised its position in shares of Calumet Specialty Products Partners by 8.4% in the second quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock worth $777,000 after buying an additional 3,750 shares in the last quarter. Finally, FAS Wealth Partners Inc. boosted its stake in Calumet Specialty Products Partners by 4.5% during the second quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock valued at $869,000 after buying an additional 2,308 shares during the period. 34.41% of the stock is currently owned by institutional investors.

Calumet Specialty Products Partners Trading Up 1.0 %

NASDAQ CLMT opened at $20.79 on Friday. The firm has a market capitalization of $1.79 billion, a P/E ratio of -7.53 and a beta of 1.90. The business has a fifty day simple moving average of $19.75 and a 200 day simple moving average of $17.21. 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 posted its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $888.36 million. The business’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. As a group, sell-side analysts predict that Calumet Specialty Products Partners will post -2.87 EPS for the current fiscal year.

About Calumet Specialty Products Partners

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.