Calumet Specialty Products Partners (NASDAQ:CLMT) Stock Price Up 4.4% – Should You Buy?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) shares rose 4.4% on Friday . The stock traded as high as $21.40 and last traded at $21.40. Approximately 101,944 shares traded hands during trading, a decline of 74% from the average daily volume of 394,457 shares. The stock had previously closed at $20.49.

Analyst Ratings Changes

Several equities analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Calumet Specialty Products Partners in a research report on Monday, November 11th. Wells Fargo & Company upped their price target on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. TD Cowen reduced their price target on 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. StockNews.com started coverage on Calumet Specialty Products Partners in a research report on Wednesday, October 23rd. They set a “sell” rating for the company. Finally, The Goldman Sachs Group reduced their target price on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, Calumet Specialty Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

Calumet Specialty Products Partners Stock Performance

The firm’s 50-day moving average price is $19.56 and its two-hundred day moving average price is $17.13. The firm has a market cap of $1.80 billion, a PE ratio of -7.58 and a beta of 1.90.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $888.36 million. During the same period in the previous year, the business posted $0.03 earnings per share. Calumet Specialty Products Partners’s revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that Calumet Specialty Products Partners, L.P. will post -2.87 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Calumet Specialty Products Partners

Large investors have recently bought and sold shares of the business. Wedbush Securities Inc. purchased a new stake in shares of Calumet Specialty Products Partners in the second quarter valued at about $169,000. Sapient Capital LLC lifted its position in Calumet Specialty Products Partners by 9.5% during the 2nd quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock worth $185,000 after acquiring an additional 1,000 shares during the period. ARS Investment Partners LLC grew its stake in shares of Calumet Specialty Products Partners by 16.7% in the 2nd quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock valued at $506,000 after purchasing an additional 4,500 shares during the last quarter. Founders Financial Alliance LLC increased its holdings in shares of Calumet Specialty Products Partners by 8.4% in the second quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock valued at $777,000 after purchasing an additional 3,750 shares during the period. Finally, FAS Wealth Partners Inc. raised its stake in shares of Calumet Specialty Products Partners by 4.5% during the second quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock worth $869,000 after purchasing an additional 2,308 shares during the last quarter. Institutional investors and hedge funds own 34.41% of the company’s stock.

About Calumet Specialty Products Partners

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.