Calumet Specialty Products Partners (NASDAQ:CLMT) Trading Down 7.6% – Should You Sell?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) traded down 7.6% during mid-day trading on Wednesday . The stock traded as low as $15.33 and last traded at $15.71. 201,252 shares were traded during trading, a decline of 85% from the average session volume of 1,387,004 shares. The stock had previously closed at $17.00.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. HC Wainwright raised their price target on Calumet Specialty Products Partners from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. UBS Group downgraded shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and dropped their price target for the company from $20.50 to $15.00 in a report on Tuesday. Wells Fargo & Company boosted their price target on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. StockNews.com upgraded shares of Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. Finally, TD Cowen dropped their price target on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Calumet Specialty Products Partners presently has an average rating of “Hold” and a consensus target price of $23.60.

Calumet Specialty Products Partners Trading Up 0.5 %

The firm has a market cap of $1.43 billion, a P/E ratio of -6.03 and a beta of 1.88. The business has a 50-day moving average price of $19.96 and a 200-day moving average price of $18.86.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released 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 firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $888.36 million. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 EPS. On average, equities analysts anticipate that Calumet Specialty Products Partners, L.P. will post -3.02 earnings per share for the current fiscal year.

Insider Activity at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the business’s stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Calumet Specialty Products Partners

A hedge fund recently raised its stake in Calumet Specialty Products Partners stock. Creative Planning grew its position in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 46.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,459 shares of the oil and gas company’s stock after purchasing an additional 19,800 shares during the period. Creative Planning owned approximately 0.08% of Calumet Specialty Products Partners worth $1,002,000 at the end of the most recent quarter. Institutional investors own 34.41% 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.