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 recipient of unusually large options trading activity on Friday. Investors acquired 9,051 call options on the company. This is an increase of 78% compared to the typical volume of 5,083 call options.

Wall Street Analysts Forecast Growth

CLMT has been the subject of several recent analyst reports. UBS Group upgraded shares of Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and decreased their price objective for the company from $15.00 to $12.00 in a report on Monday, March 17th. Bank of America initiated coverage on shares of Calumet Specialty Products Partners in a report on Tuesday, May 13th. They issued a "buy" rating and a $15.00 price objective for the company. Wells Fargo & Company reduced 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 report on Wednesday, May 14th. The Goldman Sachs Group reduced 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 report on Wednesday, April 30th. Finally, HC Wainwright restated a "buy" rating and set a $33.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $18.50.

Calumet Specialty Products Partners Price Performance

Calumet Specialty Products Partners stock traded up $1.73 during midday trading on Monday, reaching $16.86. The stock had a trading volume of 1,882,060 shares, compared to its average volume of 958,202. The firm's fifty day simple moving average is $12.09 and its two-hundred day simple moving average is $15.27. Calumet Specialty Products Partners has a twelve month low of $7.68 and a twelve month high of $25.29. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -6.11 and a beta of 0.91.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last released its earnings results 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 business had revenue of $993.90 million for the quarter, compared to the consensus estimate of $899.62 million. During the same period last year, the firm posted ($0.51) EPS. The firm's quarterly revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Calumet Specialty Products Partners will post -3.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $13.17, for a total value of $1,317,000.00. Following the transaction, the director now owns 1,084,589 shares in the company, valued at $14,284,037.13. The trade was a 8.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen P. Mawer sold 3,655 shares of the company's stock in a transaction dated 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 trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 107,310 shares of company stock valued at $1,398,031. Company insiders own 4.07% of the company's stock.

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.