Calumet Specialty Products Partners (NASDAQ:CLMT) Cut to “Sell” at UBS Group

UBS Group lowered shares of Calumet Specialty Products Partners (NASDAQ:CLMT) from a neutral rating to a sell rating in a report published on Tuesday, Marketbeat reports. UBS Group currently has $15.00 price objective on the oil and gas company’s stock, down from their previous price objective of $20.50.

CLMT has been the topic of a number of other reports. Wells Fargo & Company raised their price target on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. StockNews.com raised shares of Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. TD Cowen reduced their target price on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, HC Wainwright increased their price target on Calumet Specialty Products Partners from $25.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.60.

Calumet Specialty Products Partners Stock Down 0.8 %

Shares of Calumet Specialty Products Partners stock opened at $16.51 on Tuesday. Calumet Specialty Products Partners has a 52 week low of $9.97 and a 52 week high of $25.29. The business has a 50 day moving average price of $19.96 and a 200-day moving average price of $18.86. The company has a market cap of $1.42 billion, a PE ratio of -5.98 and a beta of 1.88.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $888.36 million. The company’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share. As a group, research analysts anticipate that Calumet Specialty Products Partners will post -3.02 EPS for the current year.

Insider Transactions at Calumet Specialty Products Partners

In related news, Director Jennifer Straumins sold 37,861 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total value of $810,982.62. Following the sale, the director now directly owns 1,184,589 shares in the company, valued at approximately $25,373,896.38. The trade was a 3.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.91% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Calumet Specialty Products Partners

An institutional investor recently raised its position in Calumet Specialty Products Partners stock. Creative Planning increased its holdings in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 46.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,459 shares of the oil and gas company’s stock after buying an additional 19,800 shares during the period. Creative Planning owned 0.08% of Calumet Specialty Products Partners worth $1,002,000 as of its most recent SEC filing. Institutional investors own 34.41% 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.