Calumet Specialty Products Partners (NASDAQ:CLMT) Downgraded to “Sell” Rating by UBS Group

Calumet Specialty Products Partners (NASDAQ:CLMT) was downgraded by analysts at UBS Group from a “neutral” rating to a “sell” rating in a research note issued to investors on Tuesday,Finviz reports. They currently have a $15.00 price target on the oil and gas company’s stock, down from their previous price target of $20.50. UBS Group’s target price indicates a potential downside of 18.21% from the company’s previous close.

A number of other analysts also recently weighed in on CLMT. StockNews.com raised shares of Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. Wells Fargo & Company boosted their target price on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. TD Cowen lowered their price target on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, HC Wainwright upped their target price on shares of Calumet Specialty Products Partners from $25.00 to $33.00 and gave the stock 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.60.

Calumet Specialty Products Partners Stock Up 3.6 %

Calumet Specialty Products Partners stock opened at $18.34 on Tuesday. The stock has a 50-day simple moving average of $20.30 and a 200 day simple moving average of $18.87. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $25.29. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -6.64 and a beta of 1.88.

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

Insiders Place Their Bets

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of Calumet Specialty Products Partners stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $20.59, for a total value of $2,059,000.00. Following the sale, the director now owns 1,388,529 shares of the company’s stock, valued at approximately $28,589,812.11. The trade was a 6.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.91% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

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.