Calumet Specialty Products Partners (NASDAQ:CLMT) Cut to “Hold” at TD Cowen

Calumet Specialty Products Partners (NASDAQ:CLMT) was downgraded by analysts at TD Cowen from a “buy” rating to a “hold” rating in a research note issued on Tuesday,Briefing.com Automated Import reports. They currently have a $16.00 price objective on the oil and gas company’s stock, down from their prior price objective of $26.00. TD Cowen’s price objective suggests a potential upside of 18.87% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday. UBS Group lowered shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $20.50 to $15.00 in a report on Tuesday, February 4th. Finally, StockNews.com upgraded shares of Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $21.60.

Calumet Specialty Products Partners Trading Down 6.1 %

CLMT stock opened at $13.46 on Tuesday. The firm has a market cap of $1.16 billion, a P/E ratio of -4.88 and a beta of 1.88. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $25.29. The business’s 50 day moving average is $17.98 and its 200-day moving average is $19.22.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.59. The company had revenue of $949.50 million during the quarter, compared to the consensus estimate of $921.76 million. The business’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.59) earnings per share. Sell-side analysts forecast that Calumet Specialty Products Partners will post -3.02 EPS for the current year.

Insider Buying and Selling at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total transaction of $810,982.62. Following the completion of the sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.91% of the company’s stock.

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.