Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Down 5.2% – Should You Sell?

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) fell 5.2% on Friday . The stock traded as low as $12.63 and last traded at $12.69. 412,451 shares were traded during mid-day trading, a decline of 40% from the average session volume of 684,999 shares. The stock had previously closed at $13.38.

Analyst Ratings Changes

CLMT has been the subject of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, March 3rd. TD Cowen cut shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and lowered their price target for the company from $26.00 to $16.00 in a report on Tuesday, March 4th. UBS Group upgraded shares of Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $12.00 in a research note on Monday, March 17th. Finally, Wells Fargo & Company lowered 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 note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.80.

Calumet Specialty Products Partners Trading Down 4.9 %

The stock has a market capitalization of $1.09 billion, a PE ratio of -4.61 and a beta of 1.88. The company’s 50-day moving average is $15.37 and its 200 day moving average is $18.62.

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

Insiders Place Their Bets

In other Calumet Specialty Products Partners news, CFO David Lunin acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $13.05 per share, for a total transaction of $32,625.00. Following the purchase, the chief financial officer now owns 2,500 shares in the company, valued at approximately $32,625. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.91% of the stock is currently owned by insiders.

Calumet Specialty Products Partners Company Profile

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.