Investors Purchase Large Volume of Call Options on Calumet Specialty Products Partners (NASDAQ:CLMT)

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) saw some unusual options trading on Monday. Stock traders bought 35,552 call options on the company. This represents an increase of 330% compared to the typical volume of 8,270 call options.

Calumet Specialty Products Partners Trading Up 3.1 %

Shares of CLMT traded up $0.50 during mid-day trading on Monday, hitting $16.71. The company’s stock had a trading volume of 472,843 shares, compared to its average volume of 1,383,785. The firm has a 50-day simple moving average of $19.83 and a 200 day simple moving average of $18.96. The firm has a market capitalization of $1.44 billion, a P/E ratio of -6.03 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.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $888.36 million. During the same period in the prior year, the company earned $0.03 earnings per share. Calumet Specialty Products Partners’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, sell-side analysts predict that Calumet Specialty Products Partners will post -3.02 EPS for the current fiscal year.

Insider Buying and Selling at Calumet Specialty Products Partners

In related news, Director Jennifer Straumins sold 37,861 shares of the firm’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 sale, the director now directly owns 1,184,589 shares of the company’s stock, valued at $25,373,896.38. This trade represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.91% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CLMT. TD Cowen lowered their price objective on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. UBS Group lowered Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and decreased their price target for the company from $20.50 to $15.00 in a research note on Tuesday, February 4th. HC Wainwright upped their price target on Calumet Specialty Products Partners from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, January 13th. StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company upped their price target on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, Calumet Specialty Products Partners presently has an average rating of “Hold” and a consensus price target of $23.60.

About Calumet Specialty Products Partners

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.