Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Up 4.6% - Still a Buy?

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) traded up 4.6% during trading on Monday . The company traded as high as $10.93 and last traded at $10.97. 38,669 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 831,847 shares. The stock had previously closed at $10.48.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CLMT shares. The Goldman Sachs Group cut their price target on Calumet Specialty Products Partners from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday. HC Wainwright restated 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. UBS Group upgraded 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. Wells Fargo & Company dropped their price target on shares of 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, TD Cowen downgraded Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $26.00 to $16.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $19.60.

Calumet Specialty Products Partners Stock Performance

The stock has a market capitalization of $969.83 million, a P/E ratio of -4.08 and a beta of 0.89. The business has a 50 day simple moving average of $11.46 and a 200-day simple moving average of $16.94.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last released its earnings results on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.06) by $0.59. The firm had revenue of $949.50 million for 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. Calumet Specialty Products Partners's revenue was down 2.8% on a year-over-year basis. Equities research analysts forecast that Calumet Specialty Products Partners, L.P. will post -3.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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, with a total value of $32,625.00. Following the completion of the acquisition, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen P. Mawer sold 3,655 shares of the stock in a transaction on 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 transaction, the director now owns 283,652 shares of the company's stock, valued at $2,635,127.08. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. 2.91% of the stock is currently owned by 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.