Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Up 7.1% – Time to Buy?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)’s stock price was up 7.1% during mid-day trading on Tuesday . The stock traded as high as $13.99 and last traded at $14.10. Approximately 164,389 shares were traded during trading, a decline of 82% from the average daily volume of 932,216 shares. The stock had previously closed at $13.17.

Analyst Ratings Changes

CLMT has been the topic of several recent research reports. Bank of America assumed coverage on Calumet Specialty Products Partners in a report on Tuesday, May 13th. They set a “buy” rating and a $15.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $33.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd. Wells Fargo & Company cut their target price on shares of Calumet Specialty Products Partners from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 14th. TD Cowen cut shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and decreased their price target for the company from $26.00 to $16.00 in a research report on Tuesday, March 4th. Finally, UBS Group raised shares of Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and dropped their price target for the company from $15.00 to $12.00 in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.50.

Calumet Specialty Products Partners Trading Up 5.3%

The stock’s 50-day moving average price is $11.75 and its 200-day moving average price is $15.49. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -5.05 and a beta of 0.91.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $899.62 million. During the same quarter last year, the company earned ($0.51) earnings per share. Calumet Specialty Products Partners’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, analysts predict that Calumet Specialty Products Partners, L.P. will post -3.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Stephen P. Mawer sold 3,655 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 283,652 shares in the company, valued at $2,635,127.08. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jennifer Straumins sold 100,000 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $13.17, for a total value of $1,317,000.00. Following the completion of the transaction, the director now owns 1,084,589 shares in the company, valued at approximately $14,284,037.13. This represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,310 shares of company stock worth $1,398,031. Corporate insiders own 4.07% 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.