Stock Traders Buy High Volume of Call Options on Calumet Specialty Products Partners (NASDAQ:CLMT)

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) saw unusually large options trading on Wednesday. Investors acquired 32,005 call options on the company. This represents an increase of approximately 442% compared to the typical daily volume of 5,902 call options.

Insider Transactions at Calumet Specialty Products Partners

In related news, Director Jennifer Straumins sold 100,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $20.59, for a total transaction of $2,059,000.00. Following the sale, the director now owns 1,388,529 shares in the company, valued at $28,589,812.11. The trade was a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.91% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Large investors have recently modified their holdings of the stock. Founders Financial Alliance LLC grew its holdings in Calumet Specialty Products Partners by 8.4% during the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock valued at $777,000 after purchasing an additional 3,750 shares during the last quarter. Creative Planning raised its holdings in shares of Calumet Specialty Products Partners by 46.4% in the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after buying an additional 19,800 shares during the period. DRW Securities LLC bought a new stake in shares of Calumet Specialty Products Partners during the 2nd quarter worth approximately $898,000. Finally, Wedbush Securities Inc. purchased a new position in Calumet Specialty Products Partners during the 2nd quarter valued at $169,000. Institutional investors own 34.41% of the company’s stock.

Calumet Specialty Products Partners Price Performance

CLMT stock opened at $21.38 on Friday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -7.75 and a beta of 1.90. The business has a 50 day simple moving average of $21.39 and a two-hundred day simple moving average of $18.63. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $888.36 million. Calumet Specialty Products Partners’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the business earned $0.03 earnings per share. Sell-side analysts anticipate that Calumet Specialty Products Partners will post -2.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CLMT shares. Wells Fargo & Company boosted their price target on 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. StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, November 11th. Finally, TD Cowen lowered their price objective on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.75.

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.