Brokerages Set Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) PT at $23.75

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) have been given a consensus recommendation of “Buy” by the four brokerages that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $23.75.

A number of equities analysts recently issued reports on CLMT shares. The Goldman Sachs Group decreased their price target on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, August 5th. StockNews.com upgraded shares of Calumet Specialty Products Partners to a “sell” rating 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, November 11th. TD Cowen dropped their target price on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, Wells Fargo & Company upped their price target on shares of 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.

Insiders Place Their Bets

In other news, Director Jennifer Straumins sold 100,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $20.59, for a total value of $2,059,000.00. Following the completion of the transaction, the director now directly owns 1,388,529 shares of the company’s stock, valued at approximately $28,589,812.11. The trade was a 6.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.91% of the company’s stock.

Institutional Trading of Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently made changes to their positions in CLMT. Sapient Capital LLC grew its holdings in shares of Calumet Specialty Products Partners by 9.5% during the second quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock valued at $185,000 after buying an additional 1,000 shares during the last quarter. ARS Investment Partners LLC raised its position in Calumet Specialty Products Partners by 16.7% during the 2nd quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock worth $506,000 after buying an additional 4,500 shares during the last quarter. Raymond James & Associates lifted its stake in Calumet Specialty Products Partners by 13.4% during the 2nd quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock valued at $9,182,000 after acquiring an additional 67,689 shares during the period. FAS Wealth Partners Inc. boosted its holdings in shares of Calumet Specialty Products Partners by 4.5% in the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock valued at $869,000 after acquiring an additional 2,308 shares during the last quarter. Finally, Wasserstein Debt Opportunities Management L.P. increased its stake in shares of Calumet Specialty Products Partners by 2.9% in the second quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock worth $110,606,000 after acquiring an additional 193,063 shares during the period. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Calumet Specialty Products Partners Stock Up 3.4 %

Calumet Specialty Products Partners stock opened at $21.52 on Friday. The business has a 50-day simple moving average of $19.96 and a 200 day simple moving average of $17.26. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -7.80 and a beta of 1.90. Calumet Specialty Products Partners has a 52 week low of $9.97 and a 52 week high of $25.29.

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 analysts’ consensus estimates of ($0.59) by ($0.59). The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $888.36 million. During the same period in the prior year, the firm earned $0.03 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, research analysts anticipate that Calumet Specialty Products Partners will post -2.87 earnings per share for the current year.

Calumet Specialty Products Partners Company Profile

Calumet, Inc 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; Montana/Renewables; and Performance brands segments.