Calumet Specialty Products Partners (NASDAQ:CLMT) Coverage Initiated at Bank of America

Bank of America began coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT - Free Report) in a research note released on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $15.00 price objective on the oil and gas company's stock.

Several other equities research analysts have also commented on the company. TD Cowen lowered Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and decreased their price target for the stock from $26.00 to $16.00 in a research note on Tuesday, March 4th. 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 report on Monday, March 17th. The Goldman Sachs Group dropped their price objective on Calumet Specialty Products Partners from $16.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. HC Wainwright restated a "buy" rating and set a $33.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd. Finally, Wells Fargo & Company lowered their price target on Calumet Specialty Products Partners from $28.00 to $23.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $18.50.

Calumet Specialty Products Partners Trading Up 2.1%

Shares of NASDAQ:CLMT traded up $0.28 during trading on Tuesday, hitting $13.73. 800,525 shares of the stock were exchanged, compared to its average volume of 891,665. The company has a fifty day moving average price of $11.37 and a two-hundred day moving average price of $16.35. The company has a market cap of $1.18 billion, a PE ratio of -4.97 and a beta of 0.89. Calumet Specialty Products Partners has a 12-month low of $7.68 and a 12-month high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The oil and gas company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.62). The firm had revenue of $993.90 million during the quarter, compared to analyst estimates of $899.62 million. Calumet Specialty Products Partners's quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.51) earnings per share. Equities research analysts anticipate that Calumet Specialty Products Partners will post -3.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Calumet Specialty Products Partners

In related news, CFO David Lunin purchased 2,500 shares of Calumet Specialty Products Partners stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $13.05 per share, with a total value of $32,625.00. Following the completion of the transaction, the chief financial officer now owns 2,500 shares of the company's stock, valued at approximately $32,625. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen P. Mawer sold 3,655 shares of the stock in a transaction dated 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 directly owns 287,307 shares in the company, valued at $3,700,514.16. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. 2.91% of the stock is currently owned by corporate 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.