Calumet Specialty Products Partners (NASDAQ:CLMT) Price Target Cut to $21.00 by Analysts at Wells Fargo & Company

Calumet Specialty Products Partners (NASDAQ:CLMT) had its target price lowered by stock analysts at Wells Fargo & Company from $23.00 to $21.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 56.13% from the stock’s current price.

Several other analysts also recently weighed in on the stock. TD Cowen downgraded shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and dropped their target price for the stock from $26.00 to $16.00 in a research report on Tuesday, March 4th. The Goldman Sachs Group dropped their target price on shares of Calumet Specialty Products Partners from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. UBS Group raised shares of Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $15.00 to $12.00 in a research report on Monday, March 17th. HC Wainwright reissued a “buy” rating and set a $33.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, March 3rd. Finally, Bank of America started coverage on shares of Calumet Specialty Products Partners in a research report on Tuesday. They set a “buy” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.50.

Calumet Specialty Products Partners Stock Down 3.0%

Shares of Calumet Specialty Products Partners stock opened at $13.45 on Wednesday. The firm’s 50 day moving average price is $11.31 and its 200-day moving average price is $16.40. Calumet Specialty Products Partners has a 52-week low of $7.68 and a 52-week high of $25.29. The company has a market cap of $1.16 billion, a P/E ratio of -4.87 and a beta of 0.89.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, May 9th. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.62). The firm had revenue of $993.90 million for the quarter, compared to analysts’ expectations of $899.62 million. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. As a group, equities research analysts forecast that Calumet Specialty Products Partners will post -3.02 EPS for the current fiscal year.

Insider Activity

In other news, CFO David Lunin bought 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased 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 in the company, valued at approximately $32,625. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen P. Mawer sold 3,655 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $12.88, for a total transaction of $47,076.40. Following the completion of the transaction, the director now owns 287,307 shares of the company’s stock, valued at approximately $3,700,514.16. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.91% of the company’s stock.

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.