Calumet Specialty Products Partners (NASDAQ:CLMT) Trading Up 4.7% – Should You Buy?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)’s share price traded up 4.7% during trading on Wednesday . The stock traded as high as $15.73 and last traded at $15.71. 577,525 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 1,382,509 shares. The stock had previously closed at $15.01.

Analyst Ratings Changes

CLMT has been the topic of a number of analyst reports. StockNews.com raised shares of Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. Wells Fargo & Company raised 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. TD Cowen lowered their target price on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Finally, HC Wainwright lifted their price target on Calumet Specialty Products Partners from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Calumet Specialty Products Partners has a consensus rating of “Moderate Buy” and an average target price of $25.75.

Calumet Specialty Products Partners Stock Up 5.7 %

The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -6.42 and a beta of 1.90. The company’s 50-day moving average price is $20.46 and its 200-day moving average price is $18.79.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $888.36 million. During the same quarter last year, the firm posted $0.03 EPS. The company’s revenue was down 4.3% compared to the same quarter last year. Analysts predict that Calumet Specialty Products Partners, L.P. will post -3.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jennifer Straumins sold 37,861 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total value of $810,982.62. Following the completion of the sale, the director now directly owns 1,184,589 shares in the company, valued at $25,373,896.38. This represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.91% of the stock is owned by company insiders.

Hedge Funds Weigh In On Calumet Specialty Products Partners

An institutional investor recently raised its position in Calumet Specialty Products Partners stock. Creative Planning lifted its stake in shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 46.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,459 shares of the oil and gas company’s stock after acquiring an additional 19,800 shares during the period. Creative Planning owned 0.08% of Calumet Specialty Products Partners worth $1,002,000 as of its most recent filing with the Securities & Exchange Commission. 34.41% of the stock is owned by institutional investors.

About Calumet Specialty Products Partners

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.