Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Down 8.8% – Time to Sell?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)’s share price was down 8.8% during mid-day trading on Tuesday . The company traded as low as $16.56 and last traded at $16.79. Approximately 272,552 shares were traded during trading, a decline of 79% from the average daily volume of 1,301,233 shares. The stock had previously closed at $18.40.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company upped their target price on 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. HC Wainwright increased their price target on Calumet Specialty Products Partners from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. TD Cowen lowered their target price on 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, StockNews.com raised shares of Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $25.75.

Calumet Specialty Products Partners Trading Up 0.1 %

The business has a fifty day moving average of $21.01 and a two-hundred day moving average of $18.82. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -5.80 and a beta of 1.90.

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 business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $888.36 million. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 earnings per share. On average, research analysts forecast that Calumet Specialty Products Partners, L.P. will post -3.02 EPS for the current fiscal year.

Insider Buying and Selling at Calumet Specialty Products Partners

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 stock was 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 in the company, valued at $25,373,896.38. The trade was a 3.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.91% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Calumet Specialty Products Partners

An institutional investor recently raised its position in Calumet Specialty Products Partners stock. Founders Financial Alliance LLC raised its holdings in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 8.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,400 shares of the oil and gas company’s stock after purchasing an additional 3,750 shares during the quarter. Founders Financial Alliance LLC owned 0.06% of Calumet Specialty Products Partners worth $777,000 as of its most recent SEC filing. 34.41% of the stock is currently owned by institutional investors and hedge funds.

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.