Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT – Get Rating) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $23.14.

Several brokerages have recently commented on CLMT. StockNews.com raised shares of Calumet Specialty Products Partners from a “sell” rating to a “hold” rating in a research report on Thursday, November 17th. UBS Group started coverage on Calumet Specialty Products Partners in a research note on Tuesday, December 13th. They issued a “neutral” rating and a $15.70 price objective on the stock.

Insider Transactions at Calumet Specialty Products Partners

In related news, Director James S. Carter bought 2,000 shares of the company’s stock in a transaction dated Monday, November 14th. The stock was purchased at an average price of $17.73 per share, for a total transaction of $35,460.00. Following the acquisition, the director now owns 285,283 shares in the company, valued at $5,058,067.59. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Calumet Specialty Products Partners news, Director James S. Carter bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were purchased at an average cost of $17.73 per share, for a total transaction of $35,460.00. Following the purchase, the director now directly owns 285,283 shares in the company, valued at $5,058,067.59. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Stephen P. Mawer purchased 3,500 shares of the company’s stock in a transaction on Monday, November 21st. The shares were purchased at an average price of $16.27 per share, for a total transaction of $56,945.00. Following the purchase, the chairman now owns 150,054 shares in the company, valued at approximately $2,441,378.58. The disclosure for this purchase can be found here. Insiders have purchased 9,500 shares of company stock valued at $160,765 over the last quarter. 2.91% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. PSI Advisors LLC acquired a new stake in shares of Calumet Specialty Products Partners during the fourth quarter worth about $25,000. BNP Paribas Arbitrage SNC raised its position in shares of Calumet Specialty Products Partners by 529.4% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 46,333 shares of the oil and gas company’s stock worth $594,000 after purchasing an additional 38,971 shares during the last quarter. Financial Advocates Investment Management acquired a new position in Calumet Specialty Products Partners in the 3rd quarter valued at $169,000. Royal Bank of Canada grew its stake in shares of Calumet Specialty Products Partners by 0.6% during the 3rd quarter. Royal Bank of Canada now owns 229,908 shares of the oil and gas company’s stock valued at $2,945,000 after buying an additional 1,425 shares during the period. Finally, Bienville Capital Management LLC boosted its position in Calumet Specialty Products Partners by 5.6% during the 3rd quarter. Bienville Capital Management LLC now owns 284,602 shares of the oil and gas company’s stock worth $3,646,000 after purchasing an additional 15,000 shares during the period. 21.05% of the stock is currently owned by hedge funds and other institutional investors.

Calumet Specialty Products Partners Stock Down 0.9 %

Calumet Specialty Products Partners stock opened at $16.83 on Friday. The company has a 50 day moving average of $15.66 and a 200-day moving average of $15.49. The stock has a market capitalization of $1.33 billion, a PE ratio of -7.45 and a beta of 2.12. Calumet Specialty Products Partners has a twelve month low of $8.40 and a twelve month high of $20.50.

Calumet Specialty Products Partners (NASDAQ:CLMT – Get Rating) last released its quarterly earnings results on Wednesday, November 9th. The oil and gas company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.46 by $0.13. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.08 billion. Equities analysts anticipate that Calumet Specialty Products Partners will post 0.63 EPS for the current fiscal year.

Calumet Specialty Products Partners Company Profile

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Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets slate of specialty branded products to various consumer-facing and industrial markets in North America and internationally. Its Specialty Products and Solutions segment offers various solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products.