Calumet Specialty Products Partners (NASDAQ:CLMT) Trading 10.3% Higher - What's Next?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) shares were up 10.3% during trading on Monday . The stock traded as high as $16.92 and last traded at $16.68. Approximately 742,120 shares traded hands during trading, a decline of 22% from the average daily volume of 953,859 shares. The stock had previously closed at $15.13.

Wall Street Analysts Forecast Growth

CLMT has been the subject of several recent analyst reports. Bank of America started coverage on Calumet Specialty Products Partners in a research note on Tuesday, May 13th. They issued a "buy" rating and a $15.00 price target for the company. TD Cowen cut shares of Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and lowered their target price for the company from $26.00 to $16.00 in a research note on Tuesday, March 4th. HC Wainwright reiterated a "buy" rating and issued a $33.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, March 3rd. UBS Group upgraded shares of Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $15.00 to $12.00 in a research report on Monday, March 17th. Finally, Wells Fargo & Company cut their target price on shares of Calumet Specialty Products Partners from $23.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. One 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $18.50.

Calumet Specialty Products Partners Trading Up 11.4%

The stock has a 50 day moving average of $12.09 and a 200-day moving average of $15.27. The company has a market capitalization of $1.45 billion, a P/E ratio of -6.11 and a beta of 0.91.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.62). The firm had revenue of $993.90 million for the quarter, compared to analysts' expectations of $899.62 million. Calumet Specialty Products Partners's quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.51) earnings per share. As a group, sell-side analysts expect that Calumet Specialty Products Partners, L.P. will post -3.02 EPS for the current fiscal year.

Insider Activity

In related news, Director Jennifer Straumins sold 100,000 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $13.17, for a total transaction of $1,317,000.00. Following the completion of the transaction, the director now owns 1,084,589 shares in the company, valued at approximately $14,284,037.13. This represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen P. Mawer sold 3,655 shares of Calumet Specialty Products Partners 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 completion of the sale, the director now owns 283,652 shares in the company, valued at approximately $2,635,127.08. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 107,310 shares of company stock worth $1,398,031 over the last ninety days. Corporate insiders own 4.07% 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.

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