Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target Lowered to $14.00 at The Goldman Sachs Group

Calumet Specialty Products Partners (NASDAQ:CLMT) had its price target reduced by The Goldman Sachs Group from $16.00 to $14.00 in a report published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the oil and gas company’s stock.

CLMT has been the subject of several other research reports. TD Cowen lowered Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and cut their price target for the company from $26.00 to $16.00 in a research note on Tuesday, March 4th. UBS Group upgraded Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and decreased their target price for the company from $15.00 to $12.00 in a research report on Monday, March 17th. Wells Fargo & Company cut their price target on shares of Calumet Specialty Products Partners from $28.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.60.

Calumet Specialty Products Partners Price Performance

Shares of NASDAQ CLMT opened at $11.25 on Wednesday. The stock has a market capitalization of $966.42 million, a price-to-earnings ratio of -4.08 and a beta of 1.42. The firm’s 50 day simple moving average is $11.46 and its 200-day simple moving average is $16.94. Calumet Specialty Products Partners has a 12 month low of $7.68 and a 12 month high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, February 28th. The oil and gas company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.59. The firm had revenue of $949.50 million for the quarter, compared to analyst estimates of $921.76 million. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.59) EPS. Analysts anticipate that Calumet Specialty Products Partners will post -3.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Calumet Specialty Products Partners

In related news, Director Stephen P. Mawer sold 3,655 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $9.29, for a total value of $33,954.95. Following the completion of the sale, the director now owns 283,652 shares of the company’s stock, valued at approximately $2,635,127.08. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Lunin acquired 2,500 shares of the stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $13.05 per share, for a total transaction of $32,625.00. Following the purchase, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $32,625. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 2.91% of the stock is currently owned by insiders.

Calumet Specialty Products Partners Company Profile

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.