Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Gap Up to $11.79

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) gapped up prior to trading on Friday . The stock had previously closed at $11.79, but opened at $12.40. Calumet Specialty Products Partners shares last traded at $13.02, with a volume of 50,128 shares traded.

Wall Street Analysts Forecast Growth

CLMT has been the topic of a number of research analyst reports. The Goldman Sachs Group decreased their price target on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, May 13th. Finally, StockNews.com assumed coverage on Calumet Specialty Products Partners in a research report on Sunday, August 4th. They issued a “hold” rating for the company.

Calumet Specialty Products Partners Trading Up 16.1 %

The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -188.29 and a beta of 1.93. The company has a fifty day moving average of $15.07 and a two-hundred day moving average of $15.43.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, May 10th. The oil and gas company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.13. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $984.10 million. As a group, sell-side analysts predict that Calumet Specialty Products Partners, L.P. will post -1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Gregory J. Morical sold 11,111 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $15.04, for a total transaction of $167,109.44. Following the completion of the transaction, the senior vice president now directly owns 33,845 shares in the company, valued at $509,028.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.91% of the company’s stock.

Institutional Investors Weigh In On Calumet Specialty Products Partners

A number of institutional investors have recently modified their holdings of the business. ICA Group Wealth Management LLC acquired a new position in shares of Calumet Specialty Products Partners during the 4th quarter worth approximately $116,000. Future Financial Wealth Managment LLC bought a new position in shares of Calumet Specialty Products Partners in the first quarter worth $119,000. PFG Investments LLC acquired a new position in Calumet Specialty Products Partners in the first quarter valued at about $155,000. Sapient Capital LLC bought a new stake in Calumet Specialty Products Partners during the fourth quarter worth about $188,000. Finally, Wedbush Securities Inc. bought a new stake in Calumet Specialty Products Partners during the second quarter worth about $169,000. Institutional investors own 34.41% of the company’s stock.

Calumet Specialty Products Partners Company Profile

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Performance brands; Montana/Renewables; and Corporate segments.