Calumet Specialty Products Partners (NASDAQ:CLMT) Sees Unusually-High Trading Volume

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMTGet Rating) saw unusually-strong trading volume on Friday . Approximately 17,342 shares changed hands during mid-day trading, a decline of 78% from the previous session’s volume of 77,265 shares.The stock last traded at $10.44 and had previously closed at $11.54.

Several analysts have recently commented on CLMT shares. Wells Fargo & Company increased their price objective on Calumet Specialty Products Partners from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, April 21st. StockNews.com raised Calumet Specialty Products Partners from a “sell” rating to a “hold” rating in a report on Friday, May 13th. Cowen upped their target price on Calumet Specialty Products Partners from $18.00 to $20.00 in a report on Monday, May 9th. HC Wainwright upped their target price on Calumet Specialty Products Partners from $19.00 to $28.00 and gave the company a “buy” rating in a report on Monday, February 28th. Finally, TheStreet lowered Calumet Specialty Products Partners from a “c-” rating to a “d+” rating in a report on Tuesday, April 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $23.50.

The firm has a fifty day simple moving average of $13.81 and a two-hundred day simple moving average of $14.19. The firm has a market capitalization of $833.45 million, a P/E ratio of -4.08 and a beta of 2.16.

Calumet Specialty Products Partners (NASDAQ:CLMTGet Rating) last announced its quarterly earnings data on Friday, May 6th. The oil and gas company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.31). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $870.80 million. During the same period last year, the business posted ($1.82) earnings per share. Sell-side analysts expect that Calumet Specialty Products Partners, L.P. will post -1.46 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. UBS Group AG boosted its holdings in shares of Calumet Specialty Products Partners by 3.4% in the first quarter. UBS Group AG now owns 97,580 shares of the oil and gas company’s stock worth $1,328,000 after acquiring an additional 3,211 shares during the period. PEAK6 Investments LLC boosted its holdings in shares of Calumet Specialty Products Partners by 152.9% in the first quarter. PEAK6 Investments LLC now owns 70,757 shares of the oil and gas company’s stock worth $963,000 after acquiring an additional 42,784 shares during the period. Worth Asset Management LLC bought a new position in shares of Calumet Specialty Products Partners in the first quarter worth $54,000. Covestor Ltd bought a new position in shares of Calumet Specialty Products Partners in the first quarter worth $77,000. Finally, Citigroup Inc. boosted its holdings in shares of Calumet Specialty Products Partners by 185.7% in the first quarter. Citigroup Inc. now owns 25,289 shares of the oil and gas company’s stock worth $344,000 after acquiring an additional 16,436 shares during the period. 25.70% of the stock is owned by hedge funds and other institutional investors.

Calumet Specialty Products Partners Company Profile (NASDAQ:CLMT)

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.

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