Calumet Specialty Products Partners (NASDAQ:CLMT) Given New $28.00 Price Target at Wells Fargo & Company

Calumet Specialty Products Partners (NASDAQ:CLMT) had its target price reduced by Wells Fargo & Company from $29.00 to $28.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other equities analysts also recently issued reports on the stock. StockNews.com upgraded shares of Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. UBS Group cut shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $20.50 to $15.00 in a report on Tuesday, February 4th. HC Wainwright reiterated a “buy” rating and set a $33.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday. Finally, TD Cowen downgraded Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and cut their target price for the company from $26.00 to $16.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Calumet Specialty Products Partners has an average rating of “Hold” and an average target price of $21.40.

Calumet Specialty Products Partners Stock Down 0.5 %

NASDAQ:CLMT opened at $12.98 on Wednesday. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -4.70 and a beta of 1.88. Calumet Specialty Products Partners has a 52 week low of $9.97 and a 52 week high of $25.29. The firm has a 50 day moving average of $17.83 and a 200 day moving average of $19.20.

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

Insider Transactions at Calumet Specialty Products Partners

In related news, CFO David Lunin acquired 2,500 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $13.05 per share, with a total value of $32,625.00. Following the acquisition, the chief financial officer now directly owns 2,500 shares in the company, valued at $32,625. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jennifer Straumins sold 37,861 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total value of $810,982.62. Following the sale, the director now directly owns 1,184,589 shares in the company, valued at approximately $25,373,896.38. This trade represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.91% of the company’s stock.

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.