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

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMTGet 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:CLMTGet 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

(Get Rating)

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.

Further Reading

Analyst Recommendations for Calumet Specialty Products Partners (NASDAQ:CLMT)

Receive News & Ratings for Calumet Specialty Products Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calumet Specialty Products Partners and related companies with MarketBeat.com's FREE daily email newsletter.