Calumet Specialty Products Partners (NASDAQ:CLMT) Posts Earnings Results, Misses Estimates By $0.62 EPS

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) issued its earnings results on Friday. The oil and gas company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.62), Zacks reports. The firm had revenue of $993.90 million for the quarter, compared to the consensus estimate of $899.62 million. The company's quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.51) EPS.

Calumet Specialty Products Partners Price Performance

Shares of CLMT stock traded down $0.86 on Thursday, hitting $13.02. The stock had a trading volume of 317,733 shares, compared to its average volume of 881,291. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -4.67 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. The business has a 50 day moving average of $11.26 and a 200 day moving average of $16.45.

Insiders Place Their Bets

In other Calumet Specialty Products Partners news, Director Stephen P. Mawer sold 3,655 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $9.29, for a total transaction of $33,954.95. Following the transaction, the director now directly owns 283,652 shares of the company's stock, valued at approximately $2,635,127.08. The trade was a 1.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Lunin bought 2,500 shares of Calumet Specialty Products Partners stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost 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 in the company, valued at approximately $32,625. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.91% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CLMT. UBS Group upgraded shares of Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $15.00 to $12.00 in a research report on Monday, March 17th. The Goldman Sachs Group reduced their target price on shares of Calumet Specialty Products Partners from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company reduced their target price on shares of Calumet Specialty Products Partners from $23.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday. TD Cowen lowered shares of Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and reduced their target price for the stock from $26.00 to $16.00 in a report on Tuesday, March 4th. Finally, HC Wainwright reissued a "buy" rating and set a $33.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $18.50.

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.