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 company traded as high as $21.40 and last traded at $21.40. Approximately 101,944 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 394,457 shares. The stock had previously closed at $20.49.

Wall Street Analyst Weigh In

CLMT has been the topic of a number of research reports. Wells Fargo & Company upped their price target on 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. 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. StockNews.com initiated coverage on Calumet Specialty Products Partners in a research note on Wednesday, October 23rd. They set a “sell” rating on the stock. TD Cowen decreased their price target on 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, The Goldman Sachs Group decreased their price target on 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. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.75.

Calumet Specialty Products Partners Stock Up 0.5 %

The firm has a 50 day moving average price of $19.50 and a 200-day moving average price of $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) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $888.36 million. Calumet Specialty Products Partners’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 earnings per share. Analysts anticipate that Calumet Specialty Products Partners, L.P. will post -2.87 EPS for the current year.

Insider Activity at Calumet Specialty Products Partners

In related news, Director Jennifer Straumins sold 100,000 shares of the company’s stock in a transaction that occurred 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 approximately $28,589,812.11. This represents a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.91% of the company’s stock.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Hedge funds have recently made changes to their positions in the company. Wedbush Securities Inc. acquired a new position in Calumet Specialty Products Partners in the 2nd quarter valued at approximately $169,000. Sapient Capital LLC increased its stake 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. ARS Investment Partners LLC increased its stake 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. Founders Financial Alliance LLC increased its stake 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. Finally, FAS Wealth Partners Inc. increased its stake 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. Hedge funds and other institutional investors 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.