Calumet Specialty Products Partners (NASDAQ:CLMT) Sees Large Volume Increase

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) saw unusually-high trading volume on Monday . Approximately 190,404 shares traded hands during mid-day trading, an increase of 15% from the previous session’s volume of 165,854 shares.The stock last traded at $10.51 and had previously closed at $11.84.

Wall Street Analyst Weigh In

CLMT has been the topic of a number of research analyst reports. The Goldman Sachs Group dropped their target price 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. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, May 13th. Finally, StockNews.com assumed coverage on Calumet Specialty Products Partners in a research note on Sunday. They set a “hold” rating on the stock.

Calumet Specialty Products Partners Stock Down 3.7 %

The business’s 50 day moving average is $15.42 and its 200 day moving average is $15.55. The company has a market cap of $916.45 million, a P/E ratio of -169.14 and a beta of 1.93.

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

Insiders Place Their Bets

In related news, SVP Gregory J. Morical sold 11,111 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $15.04, for a total transaction of $167,109.44. Following the completion of the sale, the senior vice president now owns 33,845 shares of the company’s stock, valued at $509,028.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.91% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates boosted its stake in Calumet Specialty Products Partners by 39.5% in the 4th quarter. Raymond James & Associates now owns 454,360 shares of the oil and gas company’s stock worth $8,119,000 after purchasing an additional 128,693 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Calumet Specialty Products Partners by 46.9% during 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 buying an additional 9,300 shares during the last quarter. Cerity Partners LLC acquired a new stake in Calumet Specialty Products Partners during the 4th quarter worth about $393,000. J.W. Cole Advisors Inc. raised its stake in shares of Calumet Specialty Products Partners by 23.4% during 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 buying an additional 3,750 shares during the last quarter. Finally, Gimbal Financial acquired a new position in Calumet Specialty Products Partners in the 4th quarter valued at $483,000. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

Calumet Specialty Products Partners Company Profile

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.