Calumet Specialty Products Partners - CLMT Stock Forecast, Price & News

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets slate of specialty branded products to various consumer-facing and industrial markets in North America and internationally. Its Specialty Products and Solutions segment offers various solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products. The company's Montana/Renewables segment focuses on processing renewable feedstocks into renewable hydrogen, renewable natural gas, renewable propane, renewable naphtha, renewable kerosene/aviation fuel, and renewable diesel. This segment also processes Canadian crude oil into conventional gasoline, diesel, jet fuel, and specialty grades of asphalt. Its Performance Brands segment blends, packages, and markets high performance products through Royal Purple, Bel-Ray, and TruFuel brands. Calumet GP, LLC serves as the general partner for Calumet Specialty Products Partners, L.P. The company was founded in 1916 and is headquartered in Indianapolis, Indiana.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Cowen boosted their target price on shares of Calumet Specialty Products Partners from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 28th. StockNews.com upgraded Calumet Specialty Products Partners from a "sell" rating to a "hold" rating in a report on Friday, May 13th. Finally, Wells Fargo & Company raised their target price on Calumet Specialty Products Partners from $27.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday, April 21st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $23.50.

Calumet Specialty Products Partners Stock Performance

Shares of CLMT Stock traded up $0.65 during mid-day trading on Friday, hitting $16.48. 358,786 shares of the stock were exchanged, compared to its average volume of 212,780. The stock's fifty day simple moving average is $12.01 and its two-hundred day simple moving average is $13.43. Calumet Specialty Products Partners has a 12-month low of $5.40 and a 12-month high of $17.43. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -9.10 and a beta of 2.19.

Insider Activity at Calumet Specialty Products Partners

In other news, EVP Scott Obermeier purchased 6,350 shares of the business's stock in a transaction on Tuesday, August 9th. The shares were bought at an average price of $15.95 per share, with a total value of $101,282.50. Following the completion of the transaction, the executive vice president now directly owns 48,143 shares in the company, valued at approximately $767,880.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Scott Obermeier acquired 6,350 shares of the firm's stock in a transaction dated Tuesday, August 9th. The stock was acquired at an average cost of $15.95 per share, with a total value of $101,282.50. Following the completion of the acquisition, the executive vice president now owns 48,143 shares of the company's stock, valued at $767,880.85. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Stephen P. Mawer bought 9,251 shares of the stock in a transaction dated Friday, August 12th. The shares were acquired at an average price of $16.11 per share, for a total transaction of $149,033.61. Following the completion of the transaction, the chairman now owns 137,233 shares of the company's stock, valued at approximately $2,210,823.63. The disclosure for this purchase can be found here. Insiders bought a total of 25,852 shares of company stock valued at $415,170 in the last three months. 2.91% of the stock is currently owned by company insiders.