Calumet Specialty Products Partners (NASDAQ:CLMT) Now Covered by Analysts at Bank of America

Bank of America initiated coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $15.00 target price on the oil and gas company’s stock.

A number of other analysts have also issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Calumet Specialty Products Partners from $28.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. UBS Group raised shares of Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and lowered their price objective for the stock from $15.00 to $12.00 in a research note on Monday, March 17th. The Goldman Sachs Group lowered their price objective on shares of Calumet Specialty Products Partners from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. TD Cowen lowered shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $26.00 to $16.00 in a research note on Tuesday, March 4th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.50.

Calumet Specialty Products Partners Trading Down 3.0%

Shares of CLMT opened at $13.45 on Tuesday. The firm has a market capitalization of $1.16 billion, a P/E ratio of -4.87 and a beta of 0.89. Calumet Specialty Products Partners has a 12-month low of $7.68 and a 12-month high of $25.29. The firm has a fifty day moving average price of $11.31 and a 200-day moving average price of $16.40.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its earnings results on Friday, May 9th. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.62). The firm had revenue of $993.90 million for the quarter, compared to analysts’ expectations of $899.62 million. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.51) earnings per share. Analysts predict that Calumet Specialty Products Partners will post -3.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO David Lunin bought 2,500 shares of Calumet Specialty Products Partners stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $13.05 per share, for a total transaction of $32,625.00. Following the completion of the acquisition, the chief financial officer now owns 2,500 shares of the company’s stock, valued at $32,625. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen P. Mawer sold 3,655 shares of the business’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $9.29, for a total transaction of $33,954.95. Following the completion of the transaction, the director now owns 283,652 shares of the company’s stock, valued at $2,635,127.08. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.91% of the stock is currently owned by corporate insiders.

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.