Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Down 4.3% – Time to Sell?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) dropped 4.3% on Wednesday . The company traded as low as $12.40 and last traded at $12.48. Approximately 62,662 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 1,435,905 shares. The stock had previously closed at $13.04.

Analyst Ratings Changes

CLMT has been the topic of several recent analyst reports. StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. HC Wainwright reiterated a “buy” rating and issued a $33.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday. UBS Group cut shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $20.50 to $15.00 in a report on Tuesday, February 4th. Finally, TD Cowen cut shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and dropped their target price for the stock from $26.00 to $16.00 in a report on Tuesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $21.60.

Calumet Specialty Products Partners Trading Down 6.0 %

The stock has a market capitalization of $1.05 billion, a PE ratio of -4.44 and a beta of 1.88. The firm has a 50 day moving average price of $17.98 and a 200 day moving average price of $19.22.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings results on Friday, February 28th. The oil and gas company reported ($0.47) 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. During the same quarter in the previous year, the company earned ($0.59) EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts expect that Calumet Specialty Products Partners, L.P. will post -3.02 EPS for the current year.

Insiders Place Their Bets

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of Calumet Specialty Products Partners stock in a transaction that occurred 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 sale, the director now owns 1,184,589 shares of the company’s stock, valued at $25,373,896.38. The trade was a 3.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.91% of the stock is owned by company 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.