Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Receives $23.75 Consensus PT from Brokerages

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) has been given an average recommendation of “Buy” by the four ratings firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have covered the stock in the last year is $23.75.

CLMT has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a research note on Wednesday, October 23rd. They issued a “sell” rating for the company. The Goldman Sachs Group reduced their price target on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Wells Fargo & Company boosted their price target on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a research report on Monday, November 11th. Finally, TD Cowen reduced 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 report on Monday, November 11th.

Insiders Place Their Bets

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $20.59, for a total value of $2,059,000.00. Following the completion of the sale, the director now directly owns 1,388,529 shares of the company’s stock, valued at $28,589,812.11. The trade was a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.91% of the stock is currently owned by insiders.

Institutional Trading of Calumet Specialty Products Partners

Hedge funds have recently added to or reduced their stakes in the business. Wasserstein Debt Opportunities Management L.P. raised its stake in shares of Calumet Specialty Products Partners by 2.9% during the second quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock valued at $110,606,000 after acquiring an additional 193,063 shares during the last quarter. Raymond James & Associates raised its stake in shares of Calumet Specialty Products Partners by 13.4% during the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock valued at $9,182,000 after acquiring an additional 67,689 shares during the last quarter. DRW Securities LLC purchased a new position in shares of Calumet Specialty Products Partners during the second quarter valued at about $898,000. Creative Planning increased its position in shares of Calumet Specialty Products Partners by 46.4% during the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock valued at $1,002,000 after buying an additional 19,800 shares during the period. Finally, Wedbush Securities Inc. purchased a new position in shares of Calumet Specialty Products Partners during the second quarter valued at about $169,000. 34.41% of the stock is owned by institutional investors.

Calumet Specialty Products Partners Trading Up 2.1 %

NASDAQ:CLMT opened at $20.92 on Friday. The stock has a market capitalization of $1.80 billion, a PE ratio of -7.58 and a beta of 1.90. The firm’s 50 day moving average is $19.56 and its 200 day moving average is $17.14. 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 posted 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $888.36 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. Research analysts predict that Calumet Specialty Products Partners will post -2.87 earnings per share for the current year.

About Calumet Specialty Products Partners

Calumet, Inc manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Montana/Renewables; and Performance brands segments.