StockNews.com Upgrades Calumet Specialty Products Partners (NASDAQ:CLMT) to Sell

Calumet Specialty Products Partners (NASDAQ:CLMT) was upgraded by investment analysts at StockNews.com to a “sell” rating in a research note issued on Monday.

Several other brokerages have also issued reports on CLMT. TD Cowen cut their price objective on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, November 11th. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, November 11th. Wells Fargo & Company upped their target price on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, The Goldman Sachs Group lowered their target price on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Calumet Specialty Products Partners currently has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Calumet Specialty Products Partners Stock Down 1.7 %

CLMT stock traded down $0.35 during mid-day trading on Monday, hitting $20.57. The company had a trading volume of 526,003 shares, compared to its average volume of 398,026. The company has a 50-day moving average price of $19.65 and a 200 day moving average price of $17.17. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $25.29. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -7.45 and a beta of 1.90.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings results 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $888.36 million. The company’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 EPS. As a group, analysts expect that Calumet Specialty Products Partners will post -2.87 EPS for the current year.

Insider Buying and Selling

In other news, Director Jennifer Straumins sold 100,000 shares of the firm’s 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 trade represents a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.91% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Founders Financial Alliance LLC boosted its holdings in Calumet Specialty Products Partners by 8.4% during 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. Creative Planning boosted its position in Calumet Specialty Products Partners by 46.4% during the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after purchasing an additional 19,800 shares in the last quarter. DRW Securities LLC acquired a new stake in Calumet Specialty Products Partners in the second quarter valued at $898,000. Wedbush Securities Inc. purchased a new position in shares of Calumet Specialty Products Partners in the second quarter valued at $169,000. Finally, Wasserstein Debt Opportunities Management L.P. raised its stake in shares of Calumet Specialty Products Partners by 2.9% during the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock worth $110,606,000 after buying an additional 193,063 shares during the last quarter. Institutional investors and hedge funds own 34.41% of the company’s stock.

Calumet Specialty Products Partners Company Profile

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.