Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Up 5.2% - Should You Buy?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) shares were up 5.2% during mid-day trading on Wednesday . The company traded as high as $9.80 and last traded at $9.95. Approximately 28,355 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 804,363 shares. The stock had previously closed at $9.45.

Analysts Set New Price Targets

CLMT has been the topic of several analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $33.00 price target on shares of Calumet Specialty Products Partners in a research report on Monday, March 3rd. TD Cowen downgraded shares of Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and reduced their price target for the company from $26.00 to $16.00 in a research note on Tuesday, March 4th. 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 research report on Wednesday, April 9th. Finally, UBS Group raised Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and dropped their target price for the company from $15.00 to $12.00 in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Calumet Specialty Products Partners currently has a consensus rating of "Hold" and a consensus target price of $19.80.

Calumet Specialty Products Partners Stock Down 5.5 %

The business's 50-day moving average is $12.57 and its two-hundred day moving average is $17.61. The stock has a market capitalization of $792.03 million, a PE ratio of -3.34 and a beta of 1.42.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.59. The firm had revenue of $949.50 million during the quarter, compared to analyst estimates of $921.76 million. Calumet Specialty Products Partners's revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.59) earnings per share. As a group, analysts anticipate that Calumet Specialty Products Partners, L.P. will post -3.02 EPS for the current year.

Insider Buying and Selling at Calumet Specialty Products Partners

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

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.