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

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

Several brokerages have weighed in on CLMT. Wells Fargo & Company increased their target price on shares of 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. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, November 11th. StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a research report on Monday. The Goldman Sachs Group lowered their price target on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, TD Cowen cut their price objective on 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.

Insider Buying and Selling

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 1,388,529 shares in the company, valued at approximately $28,589,812.11. The trade was a 6.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.91% of the company’s stock.

Institutional Inflows and Outflows

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

Calumet Specialty Products Partners Price Performance

CLMT opened at $21.52 on Friday. The company’s 50 day simple moving average is $19.96 and its two-hundred day simple moving average is $17.26. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -7.80 and a beta of 1.90. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $888.36 million. The company’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 company earned $0.03 earnings per share. On average, equities analysts anticipate that Calumet Specialty Products Partners will post -2.87 earnings per share 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.