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

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)’s stock price fell 7.1% during mid-day trading on Tuesday . The stock 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

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

Calumet Specialty Products Partners Price Performance

The firm has a market cap of $967.28 million, a price-to-earnings ratio of -4.08 and a beta of 1.88. The business has a 50-day moving average of $16.67 and a 200-day moving average of $18.91.

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

Insiders Place Their Bets

In other news, 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 value of $810,982.62. Following the completion of the transaction, the director now directly owns 1,184,589 shares in the company, valued at approximately $25,373,896.38. The trade was a 3.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Lunin acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $13.05 per share, for a total transaction of $32,625.00. Following the completion of the purchase, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $32,625. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.91% of the company’s stock.

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.