Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) has received a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $23.60.

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. HC Wainwright boosted their price target on shares of Calumet Specialty Products Partners from $25.00 to $33.00 and gave the company a “buy” rating in a report on Monday, January 13th. TD Cowen dropped 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. StockNews.com raised shares of Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. Finally, UBS Group cut shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $20.50 to $15.00 in a research report on Tuesday, February 4th.

Insider Activity

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of Calumet Specialty Products Partners stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $21.42, for a total value of $810,982.62. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.91% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Calumet Specialty Products Partners stock. Creative Planning boosted its holdings in shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 46.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,459 shares of the oil and gas company’s stock after buying an additional 19,800 shares during the quarter. Creative Planning owned about 0.08% of Calumet Specialty Products Partners worth $1,002,000 at the end of the most recent quarter. 34.41% of the stock is currently owned by institutional investors and hedge funds.

Calumet Specialty Products Partners Stock Performance

Calumet Specialty Products Partners stock opened at $16.16 on Tuesday. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 year high of $25.29. The firm’s 50-day moving average is $19.71 and its 200-day moving average is $18.99. The company has a market cap of $1.39 billion, a P/E ratio of -5.86 and a beta of 1.88.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its earnings results on Friday, November 8th. The oil and gas company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $888.36 million. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. As a group, sell-side analysts predict that Calumet Specialty Products Partners will post -3.02 earnings per share for the current year.

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.