Calumet Specialty Products Partners (NASDAQ:CLMT) Posts Earnings Results, Beats Expectations By $0.59 EPS

Calumet Specialty Products Partners (NASDAQ:CLMT) released its quarterly earnings data on Friday. The oil and gas company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.59, Zacks reports. The company had revenue of $949.50 million for the quarter, compared to analysts’ expectations of $921.76 million. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the company posted ($0.59) EPS.

Calumet Specialty Products Partners Trading Down 4.3 %

CLMT opened at $14.33 on Friday. The stock has a fifty day simple moving average of $18.11 and a two-hundred day simple moving average of $19.23. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -5.19 and a beta of 1.88. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $25.29.

Insiders Place Their Bets

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total value of $810,982.62. Following the completion of the transaction, the director now owns 1,184,589 shares in the company, valued at approximately $25,373,896.38. This represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.91% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CLMT. TD Cowen dropped their price objective on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, November 11th. HC Wainwright restated a “buy” rating and set a $33.00 target price on shares of Calumet Specialty Products Partners in a report on Wednesday, February 12th. StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. Finally, UBS Group downgraded Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and decreased their target price for the company from $20.50 to $15.00 in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $23.60.

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.