Stock of the Day: What Will Happen to Calumet Specialty Products Partners, L.P Next? The Stock Just Declined A Lot

Stock of the Day: What Will Happen to Calumet Specialty Products Partners, L.P Next? The Stock Just Declined A Lot

The stock of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) is a huge mover today! The stock decreased 4.25% or $0.2 on September 30, hitting $4.51. About 815,914 shares traded hands or 66.32% up from the average. Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) has declined 53.55% since February 29, 2016 and is downtrending. It has underperformed by 63.98% the S&P500.
The move comes after 7 months negative chart setup for the $327.74M company. It was reported on Oct, 1 by Barchart.com. We have $3.88 PT which if reached, will make NASDAQ:CLMT worth $45.88M less.

Analysts await Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) to report earnings on November, 2. They expect $-0.16 earnings per share, down 118.60% or $1.02 from last year’s $0.86 per share. After $-0.57 actual earnings per share reported by Calumet Specialty Products Partners, L.P for the previous quarter, Wall Street now forecasts -71.93% EPS growth.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) Ratings Coverage

Out of 10 analysts covering Calumet Specialty Products Partners LP (NASDAQ:CLMT), 2 rate it a “Buy”, 3 “Sell”, while 5 “Hold”. This means 20% are positive. Calumet Specialty Products Partners LP has been the topic of 21 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Cowen & Co maintained it with “Buy” rating and $23 target price in Thursday, February 18 report. The stock of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) earned “Neutral” rating by Goldman Sachs on Monday, November 23. Credit Suisse downgraded the stock to “Neutral” rating in Friday, February 19 report. Wells Fargo downgraded Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) on Monday, April 18 to “Market Perform” rating. The firm has “Sector Perform” rating by RBC Capital Markets given on Monday, April 18. DA Davidson initiated Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) on Monday, November 16 with “Buy” rating. The rating was downgraded by Raymond James on Monday, April 18 to “Underperform”. The firm has “Mkt Perform” rating given on Friday, September 9 by FBR Capital. The stock of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) earned “Outperform” rating by RBC Capital Markets on Monday, November 16. The stock has “Underperform” rating given by Credit Suisse on Monday, April 25.

According to Zacks Investment Research, “Calumet Specialty Products Partners, L.P. is a leading independent producer of high-quality, specialty hydrocarbon products in North America. Calumet processes crude oil into customized lubricating oils, solvents, and waxes used in consumer, industrial, and automotive products. The Company also produces fuel products including gasoline, diesel fuel and jet fuel. Calumet is based in Indianapolis, Indiana and has three plants located in northwest Louisiana.”

Insitutional Activity: The institutional sentiment decreased to 0.32 in 2016 Q2. Its down 0.44, from 0.76 in 2016Q1. The ratio worsened, as 31 funds sold all Calumet Specialty Products Partners, L.P shares owned while 35 reduced positions. 4 funds bought stakes while 17 increased positions. They now own 5.55 million shares or 44.89% less from 10.07 million shares in 2016Q1.
Concert Wealth Mgmt has 0.01% invested in the company for 13,263 shares. California Public Employees Retirement holds 143,900 shares or 0% of its portfolio. Spot Trading last reported 59,925 shares in the company. Guggenheim Cap Ltd Com has 149,450 shares for 0% of their US portfolio. Ameriprise, a Minnesota-based fund reported 120,463 shares. The Pennsylvania-based Tfs Limited Liability Company has invested 0.04% in Calumet Specialty Products Partners, L.P (NASDAQ:CLMT). Moreover, Archford Strategies Ltd Liability has 0% invested in Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) for 200 shares. Adams Asset Advsr Limited Co has 0.34% invested in the company for 409,500 shares. The Illinois-based West Family Investments has invested 0.06% in Calumet Specialty Products Partners, L.P (NASDAQ:CLMT). Wells Fargo Mn reported 598,468 shares or 0% of all its holdings. Reilly Advsrs Ltd Co has 0% invested in the company for 300 shares. The Pennsylvania-based Janney Montgomery Scott Llc has invested 0% in Calumet Specialty Products Partners, L.P (NASDAQ:CLMT). Kcg Hldg accumulated 0% or 13,962 shares. Bancorp Of America De has 0% invested in the company for 50,657 shares. Parallax Volatility Advisers L P last reported 21,376 shares in the company.

Insider Transactions: Since May 9, 2016, the stock had 8 insider purchases, and 0 insider sales for $596,411 net activity. Fleming Bruce A bought 15,000 shares worth $82,500. Mawer Stephen P had bought 11,000 shares worth $40,439 on Wednesday, May 18. 5,000 shares were bought by Murray Richard Patrick II, worth $20,050. On Monday, May 9 the insider William A Anderson bought $40,700. $95,500 worth of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) was bought by Go Timothy on Thursday, May 12. Carter James S bought 26,700 shares worth $99,447.

More notable recent Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) news were published by: Fool.com which released: “3 Reasons Calumet Specialty Products Partners, LP Stock Could Fall” on September 26, 2016, also Fool.com with their article: “3 Reasons Calumet Specialty Products Partners, LP Stock Could Rise” published on September 22, 2016, Prnewswire.com published: “Calumet Specialty Products Partners, L.P. To Attend Upcoming Investor Conference” on September 23, 2016. More interesting news about Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) were released by: Fool.com and their article: “How Risky Is Calumet Specialty Products Partners, LP?” published on September 16, 2016 as well as Fool.com‘s news article titled: “Calumet Specialty Products Partners, LP in 4 Charts” with publication date: August 18, 2016.

CLMT Company Profile

Calumet Specialty Products Partners, L.P. (Calumet), incorporated on September 27, 2005, is a producer of specialty hydrocarbon products in North America. The Company’s divisions include specialty products, fuel products and oilfield services. In its specialty products segment, it processes crude oil and other feedstocks into a range of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes. It also blends and market specialty products through Royal Purple, Bel-Ray, TruFuel and Quantum brands. In its fuel products segment, it processes crude oil into a range of fuel and fuel-related products, including gasoline, diesel, jet fuel, asphalt and heavy fuel oils, as well as reselling purchased crude oil to third party customers. The Company’s oilfield services segment makes and markets products and provides oilfield services including drilling fluids, completion fluids, production chemicals and solids control services to the gas and oil exploration industry throughout the United States. The Company’s primary operating assets consist of: Shreveport refinery, Superior refinery, San Antonio refinery, Cotton Valley refinery, Montana refinery, Princeton refinery, Royal Purple facility, Bel-Ray facility, Karns City facility and Dickinson facilities, Anchor Drilling Fluids and Anchor Oilfield Services and Terminals. It also owns and operates seven crude oil loading facilities and related assets in North Dakota and Montana, which provides it with the ability to transport crude oil directly from the point of lease, into its crude oil loading facilities and then onto the Enbridge Pipeline where it can be routed to its refineries and/or third party customers. It uses approximately 3,000 railcars leased from various lessors. This fleet of railcars enables it to receive and ship crude oil and distribute various specialty products and fuel products throughout the United States and Canada to and from each of its facilities.

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