Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) SVP Gregory J. Morical Sells 25,123 Shares

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) SVP Gregory J. Morical sold 25,123 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $16.69, for a total transaction of $419,302.87. Following the transaction, the senior vice president now directly owns 39,415 shares of the company's stock, valued at $657,836.35. This represents a 38.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Calumet Specialty Products Partners Stock Up 11.4%

NASDAQ:CLMT opened at $16.86 on Tuesday. Calumet Specialty Products Partners, L.P. has a 12-month low of $7.68 and a 12-month high of $25.29. The firm has a market capitalization of $1.45 billion, a PE ratio of -6.11 and a beta of 0.91. The firm has a 50-day moving average price of $12.25 and a 200 day moving average price of $15.23.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group raised shares of Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and cut their price objective for the company from $15.00 to $12.00 in a research report on Monday, March 17th. The Goldman Sachs Group cut their price objective on shares of Calumet Specialty Products Partners from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company cut their price objective on shares of Calumet Specialty Products Partners from $23.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. TD Cowen lowered shares of Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and cut their price objective for the company from $26.00 to $16.00 in a research report on Tuesday, March 4th. Finally, Bank of America assumed coverage on shares of Calumet Specialty Products Partners in a research report on Tuesday, May 13th. They set a "buy" rating and a $15.00 price objective for the company. One research 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $18.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.