Calumet Specialty Products Partners (NASDAQ:CLMT) Lowered to Sell Rating by UBS Group

UBS Group downgraded shares of Calumet Specialty Products Partners (NASDAQ:CLMT) from a neutral rating to a sell rating in a research note released on Tuesday morning, MarketBeat Ratings reports. The firm currently has $15.00 target price on the oil and gas company’s stock, down from their prior target price of $20.50.

CLMT has been the subject of several other reports. StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. HC Wainwright boosted their price objective on Calumet Specialty Products Partners from $25.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Wells Fargo & Company raised their target price on shares of 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. Finally, TD Cowen cut their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Calumet Specialty Products Partners has a consensus rating of “Hold” and a consensus target price of $23.60.

Calumet Specialty Products Partners Trading Down 0.8 %

CLMT stock opened at $16.51 on Tuesday. The firm has a 50 day moving average of $19.96 and a 200-day moving average of $18.86. The firm has a market capitalization of $1.42 billion, a P/E ratio of -5.98 and a beta of 1.88. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly 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 firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $888.36 million. Calumet Specialty Products Partners’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 EPS. Sell-side analysts predict that Calumet Specialty Products Partners will post -3.02 EPS for the current year.

Insider Transactions at Calumet Specialty Products Partners

In related news, Director Jennifer Straumins sold 37,861 shares of Calumet Specialty Products Partners stock in a transaction 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 transaction, the director now owns 1,184,589 shares in the company, valued at $25,373,896.38. This trade represents a 3.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.91% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Calumet Specialty Products Partners stock. Creative Planning increased its stake in shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 46.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,459 shares of the oil and gas company’s stock after acquiring an additional 19,800 shares during the quarter. Creative Planning owned approximately 0.08% of Calumet Specialty Products Partners worth $1,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 34.41% of the stock is currently owned by institutional investors.

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.