Calumet Specialty Products Partners (NASDAQ:CLMT) Upgraded to Neutral at UBS Group

Calumet Specialty Products Partners (NASDAQ:CLMT) was upgraded by research analysts at UBS Group from a “sell” rating to a “neutral” rating in a research note issued on Monday. The firm currently has a $12.00 price objective on the oil and gas company’s stock, down from their previous price objective of $15.00. UBS Group’s target price points to a potential downside of 0.50% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. TD Cowen cut shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and cut their price target for the stock from $26.00 to $16.00 in a report on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and issued a $33.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd. StockNews.com raised shares of Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. Finally, Wells Fargo & Company reduced their price target on shares of Calumet Specialty Products Partners from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.80.

Calumet Specialty Products Partners Stock Performance

Shares of CLMT opened at $12.06 on Monday. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -4.37 and a beta of 1.88. The firm has a 50-day simple moving average of $16.23 and a 200-day simple moving average of $18.79. Calumet Specialty Products Partners has a fifty-two week low of $9.97 and a fifty-two week high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings data on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.59. The firm had revenue of $949.50 million during the quarter, compared to analysts’ expectations of $921.76 million. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.59) earnings per share. Equities research analysts forecast that Calumet Specialty Products Partners will post -3.02 EPS for the current year.

Insider Buying and Selling at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, CFO David Lunin purchased 2,500 shares of the stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $13.05 per share, for a total transaction of $32,625.00. Following the acquisition, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $32,625. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Jennifer Straumins sold 37,861 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.42, for a total transaction of $810,982.62. Following the transaction, the director now directly owns 1,184,589 shares of the company’s stock, valued at approximately $25,373,896.38. This represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. 2.91% of the stock is owned by insiders.

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.