Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Down 5.3% - Should You Sell?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report)'s stock price fell 5.3% during trading on Monday . The stock traded as low as $13.08 and last traded at $13.24. 398,659 shares were traded during trading, a decline of 57% from the average session volume of 923,145 shares. The stock had previously closed at $13.98.

Analyst Ratings Changes

CLMT has been the topic of several recent analyst reports. Wells Fargo & Company lowered their price objective on shares of Calumet Specialty Products Partners from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 14th. UBS Group upgraded shares of Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and dropped their price target for the company from $15.00 to $12.00 in a research report on Monday, March 17th. HC Wainwright reiterated a "buy" rating and set a $33.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, March 3rd. TD Cowen lowered Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and decreased their price target for the company from $26.00 to $16.00 in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group dropped 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 note on Wednesday, April 30th. 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 stock. According to data from MarketBeat, Calumet Specialty Products Partners presently has an average rating of "Hold" and an average target price of $18.50.

Calumet Specialty Products Partners Price Performance

The stock's 50 day simple moving average is $11.73 and its two-hundred day simple moving average is $15.73. The stock has a market capitalization of $1.14 billion, a PE ratio of -4.79 and a beta of 0.89.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $993.90 million during the quarter, compared to analyst estimates of $899.62 million. During the same quarter last year, the firm posted ($0.51) EPS. The company's revenue was down 1.2% compared to the same quarter last year. As a group, equities research analysts predict that Calumet Specialty Products Partners, L.P. will post -3.02 earnings per share for the current fiscal year.

Insider Transactions at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Stephen P. Mawer sold 3,655 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $12.88, for a total value of $47,076.40. Following the transaction, the director now directly owns 287,307 shares in the company, valued at $3,700,514.16. This represents a 1.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.91% of the company's stock.

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.