Calumet Specialty Products Partners (NASDAQ:CLMT) Stock Price Up 3.7% – Still a Buy?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)’s share price shot up 3.7% during trading on Wednesday . The stock traded as high as $12.60 and last traded at $12.69. 73,200 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 700,350 shares. The stock had previously closed at $12.23.

Analyst Ratings Changes

Several analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $33.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd. Wells Fargo & Company dropped their price objective on shares of Calumet Specialty Products Partners from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. TD Cowen cut shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and lowered their target price for the stock from $26.00 to $16.00 in a report on Tuesday, March 4th. Finally, UBS Group upgraded Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and cut their price target for the company from $15.00 to $12.00 in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.80.

Calumet Specialty Products Partners Stock Performance

The stock’s fifty day moving average price is $14.82 and its two-hundred day moving average price is $18.47. The company has a market cap of $1.16 billion, a P/E ratio of -4.87 and a beta of 1.88.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its 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 business had revenue of $949.50 million during the quarter, compared to analyst estimates 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 period in the prior year, the business posted ($0.59) EPS. On average, equities research analysts forecast that Calumet Specialty Products Partners, L.P. will post -3.02 EPS for the current year.

Insiders Place Their Bets

In related news, CFO David Lunin bought 2,500 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $13.05 per share, for a total transaction of $32,625.00. Following the completion of the transaction, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at approximately $32,625. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen P. Mawer sold 3,655 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $12.88, for a total transaction of $47,076.40. Following the transaction, the director now owns 287,307 shares of the company’s stock, valued at $3,700,514.16. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.