Calumet Specialty Products Partners (NASDAQ:CLMT) Releases Earnings Results, Beats Estimates By $0.59 EPS

Calumet Specialty Products Partners (NASDAQ:CLMT) announced its quarterly earnings data on Friday. The oil and gas company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.59, Zacks reports. The firm had revenue of $949.50 million during the quarter, compared to analysts’ expectations of $921.76 million. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.59) earnings per share.

Calumet Specialty Products Partners Trading Down 4.0 %

Shares of NASDAQ CLMT traded down $0.60 during mid-day trading on Friday, reaching $14.38. The company had a trading volume of 986,555 shares, compared to its average volume of 1,399,181. The firm has a 50 day simple moving average of $18.23 and a two-hundred day simple moving average of $19.20. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $25.29. The stock has a market cap of $1.24 billion, a P/E ratio of -5.19 and a beta of 1.88.

Insider Transactions at Calumet Specialty Products Partners

In related news, Director Jennifer Straumins sold 37,861 shares of the business’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 sale, the director now owns 1,184,589 shares of the company’s stock, valued at approximately $25,373,896.38. The trade was a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CLMT. UBS Group cut shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $20.50 to $15.00 in a research note on Tuesday, February 4th. StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of Calumet Specialty Products Partners in a research report on Wednesday, February 12th. Finally, TD Cowen lowered their price target on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, Calumet Specialty Products Partners has a consensus rating of “Hold” and an average price target of $23.60.

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.