Calumet Specialty Products Partners (NASDAQ:CLMT) Trading Up 4.4% – Still a Buy?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) shares were up 4.4% during trading on Friday . The stock traded as high as $21.40 and last traded at $21.40. Approximately 101,944 shares were traded during trading, a decline of 74% from the average daily volume of 394,457 shares. The stock had previously closed at $20.49.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CLMT shares. StockNews.com started coverage on shares of Calumet Specialty Products Partners in a research note on Wednesday, October 23rd. They set a “sell” rating on the stock. The Goldman Sachs Group dropped their price target on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday. TD Cowen dropped 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 research note on Monday. Finally, Wells Fargo & Company increased their price target on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Calumet Specialty Products Partners Stock Performance

The company’s fifty day moving average is $19.50 and its 200-day moving average is $17.09.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $888.36 million. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share. On average, analysts anticipate that Calumet Specialty Products Partners, L.P. will post -2.87 earnings per share for the current year.

Insider Activity at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $20.59, for a total value of $2,059,000.00. Following the completion of the sale, the director now owns 1,388,529 shares in the company, valued at $28,589,812.11. This trade represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.91% of the stock is currently owned by company insiders.

Institutional Trading of Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sapient Capital LLC increased its holdings in Calumet Specialty Products Partners by 9.5% in the 2nd quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock valued at $185,000 after buying an additional 1,000 shares during the period. FAS Wealth Partners Inc. increased its holdings in Calumet Specialty Products Partners by 4.5% in the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock valued at $869,000 after buying an additional 2,308 shares during the period. Founders Financial Alliance LLC increased its holdings in Calumet Specialty Products Partners by 8.4% in the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock valued at $777,000 after buying an additional 3,750 shares during the period. ARS Investment Partners LLC increased its holdings in Calumet Specialty Products Partners by 16.7% in the 2nd quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock valued at $506,000 after buying an additional 4,500 shares during the period. Finally, Wedbush Securities Inc. bought a new position in Calumet Specialty Products Partners in the 2nd quarter valued at about $169,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

About Calumet Specialty Products Partners

Calumet, Inc 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; Montana/Renewables; and Performance brands segments.