Calumet Specialty Products Partners (NASDAQ:CLMT) Releases Quarterly Earnings Results

Calumet Specialty Products Partners (NASDAQ:CLMT) released its quarterly earnings results on Friday. The oil and gas company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.59, Zacks reports. The business had revenue of $949.50 million during the quarter, compared to analyst estimates of $921.76 million. During the same quarter in the prior year, the company earned ($0.59) earnings per share. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year.

Calumet Specialty Products Partners Stock Performance

Shares of CLMT traded down $0.60 during trading hours on Friday, hitting $14.38. The stock had a trading volume of 986,555 shares, compared to its average volume of 1,399,181. The company’s fifty day simple moving average is $18.23 and its 200 day simple moving average is $19.20. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $25.29. The firm has a market cap of $1.24 billion, a P/E ratio of -5.19 and a beta of 1.88.

Insider Activity

In related news, Director Jennifer Straumins sold 37,861 shares of the firm’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 sale, the director now owns 1,184,589 shares of the company’s stock, valued at approximately $25,373,896.38. This trade represents a 3.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.91% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CLMT. StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. TD Cowen cut their target price on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, November 11th. UBS Group cut shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $20.50 to $15.00 in a research note on Tuesday, February 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $33.00 price objective on shares of Calumet Specialty Products Partners in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.60.

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.