Calumet Specialty Products Partners (NASDAQ:CLMT) Sees Unusually-High Trading Volume

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) saw strong trading volume on Monday . 212,730 shares changed hands during mid-day trading, an increase of 17% from the previous session’s volume of 182,442 shares.The stock last traded at $14.05 and had previously closed at $13.64.

Analysts Set New Price Targets

A number of brokerages have issued reports on CLMT. The Goldman Sachs Group lowered their target price on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, August 5th. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, May 13th. StockNews.com started coverage on Calumet Specialty Products Partners in a research report on Monday. They set a “hold” rating on the stock. Finally, TD Cowen reduced their price objective on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.33.

Calumet Specialty Products Partners Price Performance

The stock has a 50 day moving average of $15.02 and a 200 day moving average of $15.41. The firm has a market cap of $1.12 billion, a P/E ratio of -194.86 and a beta of 1.93.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.08). The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $889.17 million. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.19) EPS. On average, research analysts predict that Calumet Specialty Products Partners, L.P. will post -1.9 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Gregory J. Morical sold 11,111 shares of Calumet Specialty Products Partners stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $15.04, for a total value of $167,109.44. Following the transaction, the senior vice president now owns 33,845 shares in the company, valued at approximately $509,028.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.91% of the company’s stock.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Several institutional investors and hedge funds have recently bought and sold shares of CLMT. ICA Group Wealth Management LLC bought a new position in shares of Calumet Specialty Products Partners in the fourth quarter worth approximately $116,000. Future Financial Wealth Managment LLC bought a new stake in Calumet Specialty Products Partners in the 1st quarter worth $119,000. PFG Investments LLC bought a new stake in Calumet Specialty Products Partners in the 1st quarter worth $155,000. Deuterium Capital Management LLC purchased a new position in shares of Calumet Specialty Products Partners in the first quarter valued at about $159,000. Finally, Wedbush Securities Inc. bought a new position in shares of Calumet Specialty Products Partners during the second quarter valued at about $169,000. 34.41% of the stock is currently owned by institutional investors.

Calumet Specialty Products Partners Company Profile

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Performance brands; Montana/Renewables; and Corporate segments.