Calumet Specialty Products Partners (NASDAQ:CLMT) Research Coverage Started at Bank of America

Bank of America initiated coverage on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research note released on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $15.00 price objective on the oil and gas company’s stock.

CLMT has been the topic of several other research reports. HC Wainwright reiterated a “buy” rating and set a $33.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, March 3rd. The Goldman Sachs Group reduced their price objective on shares of Calumet Specialty Products Partners from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company reduced their price target on shares of Calumet Specialty Products Partners from $28.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. TD Cowen cut shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and reduced their price target for the stock from $26.00 to $16.00 in a research report on Tuesday, March 4th. Finally, UBS Group upgraded shares of Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $15.00 to $12.00 in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Calumet Specialty Products Partners has a consensus rating of “Hold” and a consensus target price of $18.50.

Calumet Specialty Products Partners Price Performance

Calumet Specialty Products Partners stock opened at $13.45 on Tuesday. The stock has a market cap of $1.16 billion, a P/E ratio of -4.87 and a beta of 0.89. Calumet Specialty Products Partners has a 1 year low of $7.68 and a 1 year high of $25.29. The firm’s 50 day moving average price is $11.31 and its 200-day moving average price is $16.40.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings data on Friday, May 9th. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.62). The firm had revenue of $993.90 million for the quarter, compared to analysts’ expectations of $899.62 million. Calumet Specialty Products Partners’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.51) EPS. As a group, equities analysts expect that Calumet Specialty Products Partners will post -3.02 EPS for the current year.

Insider Buying and Selling at Calumet Specialty Products Partners

In other news, CFO David Lunin acquired 2,500 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $13.05 per share, for a total transaction of $32,625.00. Following the completion of the transaction, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at approximately $32,625. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen P. Mawer sold 3,655 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $12.88, for a total transaction of $47,076.40. Following the transaction, the director now owns 287,307 shares in the company, valued at $3,700,514.16. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.91% 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.