Calumet Specialty Products Partners Sees Unusually Large Options Volume (NASDAQ:CLMT)

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) was the recipient of some unusual options trading activity on Monday. Stock traders acquired 4,899 call options on the stock. This represents an increase of approximately 204% compared to the average volume of 1,610 call options.

Calumet Specialty Products Partners Stock Performance

Shares of NASDAQ CLMT opened at $16.14 on Wednesday. The business’s 50-day simple moving average is $16.01 and its 200-day simple moving average is $15.96. Calumet Specialty Products Partners has a 52 week low of $11.91 and a 52 week high of $19.91. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -230.57 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, May 10th. The oil and gas company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.13. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $984.10 million. As a group, equities research analysts forecast that Calumet Specialty Products Partners will post -1.84 earnings per share for the current year.

Insider Buying and Selling at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, SVP Gregory J. Morical sold 11,111 shares of Calumet Specialty Products Partners stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $15.04, for a total transaction of $167,109.44. Following the completion of the sale, the senior vice president now owns 33,845 shares of the company’s stock, valued at approximately $509,028.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.91% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CLMT. ICA Group Wealth Management LLC bought a new stake in Calumet Specialty Products Partners during the fourth quarter valued at about $116,000. Future Financial Wealth Managment LLC acquired a new position in shares of Calumet Specialty Products Partners during the 1st quarter worth about $119,000. PFG Investments LLC bought a new stake in Calumet Specialty Products Partners during the 1st quarter valued at approximately $155,000. Deuterium Capital Management LLC bought a new stake in Calumet Specialty Products Partners during the 1st quarter valued at approximately $159,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. acquired a new stake in Calumet Specialty Products Partners in the 1st quarter valued at approximately $171,000. 34.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on CLMT. The Goldman Sachs Group lowered their price target on Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. StockNews.com began coverage on shares of Calumet Specialty Products Partners in a research report on Wednesday, July 3rd. They issued a “hold” rating for the company. Finally, HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, May 13th.

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.