Stock Traders Buy High Volume of Call Options on Calumet Specialty Products Partners (NASDAQ:CLMT)

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) was the target of some unusual options trading on Friday. Stock traders acquired 9,051 call options on the stock. This is an increase of 78% compared to the average volume of 5,083 call options.

Calumet Specialty Products Partners Stock Performance

CLMT traded up $0.96 during trading on Friday, reaching $15.13. 2,463,086 shares of the stock were exchanged, compared to its average volume of 954,486. Calumet Specialty Products Partners has a twelve month low of $7.68 and a twelve month high of $25.29. The stock has a market cap of $1.30 billion, a P/E ratio of -5.48 and a beta of 0.91. The stock's 50 day moving average price is $12.09 and its two-hundred day moving average price is $15.32.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The oil and gas company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.62). The business had revenue of $993.90 million for the quarter, compared to analyst estimates of $899.62 million. The company's revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.51) earnings per share. Equities research analysts predict that Calumet Specialty Products Partners will post -3.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CLMT has been the subject of several recent research reports. Wells Fargo & Company dropped their price target on 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. TD Cowen lowered shares of Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and lowered their target price for the stock from $26.00 to $16.00 in a research note on Tuesday, March 4th. Bank of America initiated coverage on shares of Calumet Specialty Products Partners in a research note on Tuesday, May 13th. They issued a "buy" rating and a $15.00 target price on the stock. UBS Group raised Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and cut their target price for the company from $15.00 to $12.00 in a research report on Monday, March 17th. Finally, The Goldman Sachs Group lowered their target price 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 assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $18.50.

Insider Activity at Calumet Specialty Products Partners

In other news, Director Stephen P. Mawer sold 3,655 shares of the business's stock in a transaction dated Tuesday, April 22nd. The stock was 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 of the company's stock, valued at approximately $2,635,127.08. The trade was a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jennifer Straumins sold 100,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $13.17, for a total value of $1,317,000.00. Following the completion of the transaction, the director now directly owns 1,084,589 shares of the company's stock, valued at $14,284,037.13. This represents a 8.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,310 shares of company stock valued at $1,398,031 over the last ninety days. 4.07% 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.