Calumet Specialty Products Partners (NASDAQ:CLMT) Issues Earnings Results, Beats Estimates By $0.59 EPS

Calumet Specialty Products Partners (NASDAQ:CLMT) released its quarterly earnings results on Friday. The oil and gas company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.59, Zacks reports. The firm had revenue of $949.50 million for the quarter, compared to analysts’ expectations of $921.76 million. During the same quarter in the previous year, the business earned ($0.59) EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis.

Calumet Specialty Products Partners Stock Performance

Shares of Calumet Specialty Products Partners stock traded down $0.66 during midday trading on Friday, reaching $14.32. 1,079,618 shares of the company’s stock traded hands, compared to its average volume of 1,400,900. The company has a market cap of $1.23 billion, a PE ratio of -5.17 and a beta of 1.88. The stock has a 50 day moving average of $18.23 and a 200-day moving average of $19.20. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $25.29.

Analyst Ratings Changes

CLMT has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $33.00 target price on shares of Calumet Specialty Products Partners in a research report on Wednesday, February 12th. UBS Group cut Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $20.50 to $15.00 in a research note on Tuesday, February 4th. TD Cowen lowered their target price on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Finally, StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $23.60.

Insider Buying and Selling at Calumet Specialty Products Partners

In other news, Director Jennifer Straumins sold 37,861 shares of Calumet Specialty Products Partners stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.42, for a total transaction of $810,982.62. Following the sale, the director now owns 1,184,589 shares of the company’s stock, valued at approximately $25,373,896.38. The trade was a 3.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.