Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Down 7.1% – Should You Sell?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) fell 7.1% on Tuesday . The company traded as low as $10.29 and last traded at $10.17. 622,957 shares traded hands during trading, a decline of 56% from the average session volume of 1,426,101 shares. The stock had previously closed at $10.95.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. TD Cowen lowered shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and cut their target price for the stock from $26.00 to $16.00 in a research note on Tuesday, March 4th. UBS Group cut Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and cut their target price for the stock from $20.50 to $15.00 in a report on Tuesday, February 4th. HC Wainwright restated a “buy” rating and set a $33.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, March 3rd. Wells Fargo & Company dropped their price objective on shares of Calumet Specialty Products Partners from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Finally, StockNews.com raised shares of Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Calumet Specialty Products Partners has a consensus rating of “Hold” and an average price target of $21.40.

Calumet Specialty Products Partners Stock Down 1.5 %

The stock has a 50-day moving average of $17.11 and a 200 day moving average of $19.03. The company has a market capitalization of $926.90 million, a PE ratio of -3.91 and a beta of 1.88.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its earnings results on Friday, February 28th. The oil and gas company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.59. The business had revenue of $949.50 million for the quarter, compared to the consensus estimate of $921.76 million. During the same quarter in the previous year, the firm earned ($0.59) earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities analysts forecast that Calumet Specialty Products Partners, L.P. will post -3.02 EPS for the current fiscal year.

Insider Activity at Calumet Specialty Products Partners

In other news, CFO David Lunin purchased 2,500 shares of the stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $13.05 per share, with a total value of $32,625.00. Following the completion of the acquisition, the chief financial officer now owns 2,500 shares in the company, valued at $32,625. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the director now directly owns 1,184,589 shares of the company’s stock, valued at approximately $25,373,896.38. This represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. 2.91% of the stock is currently owned by company 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.