Calumet Specialty Products Partners (NASDAQ:CLMT) Stock Price Up 5.2% – Time to Buy?

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) traded up 5.2% during mid-day trading on Wednesday . The stock traded as high as $9.80 and last traded at $9.95. 28,355 shares changed hands during trading, a decline of 96% from the average session volume of 804,363 shares. The stock had previously closed at $9.45.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CLMT shares. UBS Group raised Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $15.00 to $12.00 in a research report on Monday, March 17th. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, March 3rd. Wells Fargo & Company cut their price objective on shares of Calumet Specialty Products Partners from $28.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Finally, TD Cowen downgraded shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and lowered their target price 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 assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $19.80.

Calumet Specialty Products Partners Stock Performance

The company has a market capitalization of $838.42 million, a PE ratio of -3.54 and a beta of 1.42. The business has a fifty day moving average price of $12.69 and a 200 day moving average price of $17.67.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings results on Friday, February 28th. The oil and gas company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.59. The business had revenue of $949.50 million during the quarter, compared to analysts’ expectations of $921.76 million. During the same quarter in the previous year, the business posted ($0.59) EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. Research analysts forecast that Calumet Specialty Products Partners, L.P. will post -3.02 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Stephen P. Mawer sold 3,655 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $12.88, for a total value of $47,076.40. Following the completion of the sale, the director now directly owns 287,307 shares in the company, valued at approximately $3,700,514.16. This represents a 1.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Lunin acquired 2,500 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $13.05 per share, for a total transaction of $32,625.00. Following the completion of the transaction, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $32,625. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.91% of the company’s stock.

About Calumet Specialty Products Partners

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.