Calumet Specialty Products Partners (NASDAQ:CLMT) Rating Increased to Neutral at UBS Group

Calumet Specialty Products Partners (NASDAQ:CLMT) was upgraded by analysts at UBS Group from a “sell” rating to a “neutral” rating in a report released on Monday. The brokerage currently has a $12.00 price target on the oil and gas company’s stock, down from their prior price target of $15.00. UBS Group’s target price suggests a potential downside of 0.50% from the company’s previous close.

Several other analysts have also issued reports on the stock. TD Cowen lowered shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and reduced their price objective for the company from $26.00 to $16.00 in a report on Tuesday, March 4th. Wells Fargo & Company reduced their price target on shares of Calumet Specialty Products Partners from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, March 3rd. Finally, StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.80.

Calumet Specialty Products Partners Price Performance

Shares of NASDAQ CLMT opened at $12.06 on Monday. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 year high of $25.29. The company has a market capitalization of $1.04 billion, a P/E ratio of -4.37 and a beta of 1.88. The company has a 50 day simple moving average of $16.23 and a 200-day simple moving average of $18.79.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its earnings results on Friday, February 28th. 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. The business had revenue of $949.50 million for the quarter, compared to analyst estimates of $921.76 million. During the same period last year, the business earned ($0.59) EPS. Calumet Specialty Products Partners’s revenue was down 2.8% compared to the same quarter last year. As a group, research analysts expect that Calumet Specialty Products Partners will post -3.02 EPS for the current year.

Insider Activity at Calumet Specialty Products Partners

In other news, CFO David Lunin acquired 2,500 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $13.05 per share, with a total value of $32,625.00. Following the transaction, the chief financial officer now owns 2,500 shares in the company, valued at approximately $32,625. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer Straumins sold 37,861 shares of the business’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. 2.91% of the stock is currently owned by company insiders.

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.