Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Down 4.9%

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) dropped 4.9% during mid-day trading on Tuesday . The stock traded as low as $13.47 and last traded at $13.51. Approximately 268,701 shares changed hands during mid-day trading, an increase of 93% from the average daily volume of 138,866 shares. The stock had previously closed at $14.20.

Analyst Upgrades and Downgrades

CLMT has been the topic of several analyst reports. StockNews.com assumed coverage on shares of Calumet Specialty Products Partners in a research report on Friday, July 19th. They set a “hold” rating on the stock. HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, May 13th.

Calumet Specialty Products Partners Price Performance

The stock’s 50 day moving average price is $15.78 and its two-hundred day moving average price is $15.75. The firm has a market capitalization of $983.97 million, a price-to-earnings ratio of -174.86 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its earnings results on Friday, May 10th. The oil and gas company reported ($0.61) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.13. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $984.10 million. As a group, equities research analysts anticipate that Calumet Specialty Products Partners, L.P. will post -1.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Calumet Specialty Products Partners news, SVP Gregory J. Morical sold 11,111 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $15.04, for a total value of $167,109.44. Following the sale, the senior vice president now owns 33,845 shares of the company’s stock, valued at approximately $509,028.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.91% of the stock is owned by insiders.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Several large investors have recently bought and sold shares of CLMT. Raymond James & Associates increased its stake in Calumet Specialty Products Partners by 39.5% during the fourth quarter. Raymond James & Associates now owns 454,360 shares of the oil and gas company’s stock valued at $8,119,000 after acquiring an additional 128,693 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Calumet Specialty Products Partners by 46.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 29,131 shares of the oil and gas company’s stock valued at $521,000 after acquiring an additional 9,300 shares during the period. FAS Wealth Partners Inc. raised its position in Calumet Specialty Products Partners by 36.8% in the fourth quarter. FAS Wealth Partners Inc. now owns 54,868 shares of the oil and gas company’s stock worth $980,000 after purchasing an additional 14,770 shares in the last quarter. Cerity Partners LLC bought a new position in Calumet Specialty Products Partners during the fourth quarter worth about $393,000. Finally, J.W. Cole Advisors Inc. grew its stake in shares of Calumet Specialty Products Partners by 23.4% in the 4th quarter. J.W. Cole Advisors Inc. now owns 19,750 shares of the oil and gas company’s stock valued at $353,000 after purchasing an additional 3,750 shares during the period. 34.41% of the stock is currently owned by institutional investors and hedge funds.

About Calumet Specialty Products Partners

Calumet Specialty Products Partners, L.P. 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; Performance brands; Montana/Renewables; and Corporate segments.