Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Down 2.8% - Should You Sell?

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) fell 2.8% during trading on Tuesday . The stock traded as low as $9.06 and last traded at $8.96. 125,133 shares changed hands during trading, a decline of 85% from the average session volume of 815,269 shares. The stock had previously closed at $9.22.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. UBS Group raised shares of Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $15.00 to $12.00 in a report on Monday, March 17th. TD Cowen downgraded Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and lowered their price target for the company from $26.00 to $16.00 in a research report on Tuesday, March 4th. Wells Fargo & Company dropped their price objective on Calumet Specialty Products Partners from $28.00 to $23.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, HC Wainwright restated a "buy" rating and set a $33.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Calumet Specialty Products Partners currently has an average rating of "Hold" and a consensus target price of $19.80.

Calumet Specialty Products Partners Trading Up 1.0 %

The stock has a market capitalization of $900.27 million, a P/E ratio of -3.80 and a beta of 1.42. The firm's fifty day moving average is $11.90 and its 200-day moving average is $17.26.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last announced its earnings results on Friday, February 28th. The oil and gas company reported ($0.47) EPS for the quarter, topping the consensus estimate 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. During the same period in the previous year, the firm earned ($0.59) earnings per share. The firm's revenue was down 2.8% compared to the same quarter last year. Equities research analysts expect that Calumet Specialty Products Partners, L.P. will post -3.02 EPS for the current year.

Insider Activity at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Stephen P. Mawer sold 3,655 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $9.29, for a total value of $33,954.95. Following the completion of the sale, the director now owns 283,652 shares in the company, valued at approximately $2,635,127.08. This trade represents a 1.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David Lunin bought 2,500 shares of Calumet Specialty Products Partners stock in a transaction dated Tuesday, March 4th. The shares were bought 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 $32,625. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 2.91% of the stock is currently owned by company 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.