Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Down 3.7%

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)’s stock price fell 3.7% during trading on Friday . The company traded as low as $16.09 and last traded at $16.35. 56,263 shares traded hands during trading, a decline of 51% from the average session volume of 114,044 shares. The stock had previously closed at $16.97.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CLMT. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, May 13th. The Goldman Sachs Group lowered their target price on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Finally, StockNews.com began coverage on shares of Calumet Specialty Products Partners in a research report on Thursday. They set a “hold” rating on the stock.

Calumet Specialty Products Partners Price Performance

The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -229.71 and a beta of 1.92. The business has a fifty day moving average price of $16.06 and a two-hundred day moving average price of $15.98.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, May 10th. The oil and gas company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.13. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $984.10 million. On average, research analysts predict that Calumet Specialty Products Partners, L.P. will post -1.84 earnings per share for the current year.

Insider Activity

In related news, SVP Gregory J. Morical sold 11,111 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $15.04, for a total transaction of $167,109.44. Following the sale, the senior vice president now directly owns 33,845 shares of the company’s stock, valued at $509,028.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.91% of the company’s stock.

Institutional Trading of Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. boosted its stake in shares of Calumet Specialty Products Partners by 4.3% during the 1st quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock worth $306,000 after acquiring an additional 850 shares in the last quarter. Sheets Smith Wealth Management grew its holdings in Calumet Specialty Products Partners by 11.2% in the fourth quarter. Sheets Smith Wealth Management now owns 12,202 shares of the oil and gas company’s stock valued at $218,000 after purchasing an additional 1,225 shares during the period. O Brien Greene & Co. Inc grew its holdings in Calumet Specialty Products Partners by 4.2% in the fourth quarter. O Brien Greene & Co. Inc now owns 50,000 shares of the oil and gas company’s stock valued at $894,000 after purchasing an additional 2,000 shares during the period. Brown Advisory Inc. increased its position in shares of Calumet Specialty Products Partners by 6.2% in the fourth quarter. Brown Advisory Inc. now owns 85,613 shares of the oil and gas company’s stock valued at $1,530,000 after buying an additional 5,000 shares in the last quarter. Finally, Independent Advisor Alliance raised its stake in shares of Calumet Specialty Products Partners by 11.4% during the 4th quarter. Independent Advisor Alliance now owns 50,412 shares of the oil and gas company’s stock worth $901,000 after buying an additional 5,150 shares during the period. Institutional investors and hedge funds own 34.41% of the company’s stock.

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.