Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Gap Up – Still a Buy?

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) gapped up prior to trading on Monday . The stock had previously closed at $12.06, but opened at $12.73. Calumet Specialty Products Partners shares last traded at $12.99, with a volume of 92,676 shares changing hands.

Analyst Ratings Changes

CLMT has been the subject of a number of research analyst reports. TD Cowen lowered shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and cut their target price for the stock from $26.00 to $16.00 in a research report on Tuesday, March 4th. UBS Group raised shares of Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and cut their target price for the stock from $15.00 to $12.00 in a research report on Monday. HC Wainwright reissued a “buy” rating and set a $33.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, March 3rd. Finally, Wells Fargo & Company cut their target price on shares of Calumet Specialty Products Partners from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.80.

Calumet Specialty Products Partners Trading Down 2.6 %

The firm’s fifty day moving average price is $15.88 and its 200-day moving average price is $18.72. The company has a market cap of $1.10 billion, a P/E ratio of -4.66 and a beta of 1.88.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings data on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.59. The company had revenue of $949.50 million for the quarter, compared to the consensus estimate of $921.76 million. During the same quarter in the previous year, the firm posted ($0.59) EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, research analysts forecast that Calumet Specialty Products Partners, L.P. will post -3.02 earnings per share for the current fiscal year.

Insider Activity at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, CFO David Lunin bought 2,500 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $13.05 per share, with a total value of $32,625.00. Following the completion of the purchase, the chief financial officer now directly owns 2,500 shares in the company, valued at $32,625. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.91% of the stock is currently owned by 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.