Price Action Alert: Calumet Specialty Products Partners, L.P’s Stock Is Sell After Reaching All-Time Low

Price Action Alert: Calumet Specialty Products Partners, L.P's Stock Is Sell After Reaching All Time Low

The stock of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) reached all time low today, Nov, 3 and still has $3.05 target or 13.00% below today’s $3.50 share price. This indicates more downside for the $270.73M company. This technical setup was reported by Barchart.com. If the $3.05 PT is reached, the company will be worth $35.19M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock last traded at $3.5 per share. It is down 68.19% since April 1, 2016 and is downtrending. It has underperformed by 69.40% the S&P500.

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. Credit Suisse downgraded the shares of CLMT in a report on Monday, April 11 to “Underperform” rating. As per Thursday, February 18, the company rating was maintained by Cowen & Co. RBC Capital Markets reinitiated it with “Outperform” rating and $32.0 target price in Monday, November 16 report. The firm has “Underperform” rating by Raymond James given on Monday, April 18. Goldman Sachs initiated the stock with “Neutral” rating in Monday, November 23 report. On Monday, April 18 the stock rating was downgraded by Janney Capital to “Neutral”. The stock has “Underperform” rating given by Credit Suisse on Monday, April 25. The company was downgraded on Friday, February 19 by Credit Suisse. The stock of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) earned “Buy” rating by DA Davidson on Monday, November 16. The rating was downgraded by RBC Capital Markets on Monday, April 18 to “Sector Perform”.

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 Q2 2016. Its down 0.44, from 0.76 in 2016Q1. The ratio fall, 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.
Raymond James And Assoc holds 0% or 223,588 shares in its portfolio. Financial Bank Of Montreal Can holds 0% or 16 shares in its portfolio. Albert D Mason owns 19,997 shares or 0.06% of their US portfolio. Moreover, Bancorp Of America Corp De has 0% invested in Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) for 50,657 shares. Fifth Third Retail Bank accumulated 31,050 shares or 0% of the stock. Citigroup has 7,648 shares for 0% of their US portfolio. Moreover, Stifel Fincl Corp has 0.01% invested in Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) for 607,725 shares. The United Kingdom-based Gsa Cap Partners Llp has invested 0.01% in Calumet Specialty Products Partners, L.P (NASDAQ:CLMT). Wells Fargo & Mn holds 598,468 shares or 0% of its portfolio. First Manhattan reported 30,000 shares or 0% of all its holdings. Ladenburg Thalmann Financial last reported 14,430 shares in the company. Fort Point Ltd Llc has 0.05% invested in the company for 20,000 shares. The Maryland-based Sandy Spring Fincl Bank has invested 0% in Calumet Specialty Products Partners, L.P (NASDAQ:CLMT). Royal Commercial Bank Of Canada last reported 0% of its portfolio in the stock. Winslow Evans And Crocker last reported 2,206 shares in the company.

Insider Transactions: Since May 9, 2016, the stock had 8 buys, and 0 sales for $596,411 net activity. Another trade for 5,000 shares valued at $20,050 was made by Murray Richard Patrick II on Monday, May 9. Mawer Stephen P bought 11,000 shares worth $40,439. 25,000 shares were bought by Go Timothy, worth $95,500 on Thursday, May 12. On Tuesday, May 17 Carter James S bought $99,447 worth of the stock or 26,700 shares. $40,700 worth of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) was bought by William A Anderson. Fleming Bruce A bought $82,500 worth of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) on Wednesday, August 24.

More notable recent Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) news were published by: Prnewswire.com which released: “Calumet Specialty Products Partners, L.P. Reports Third Quarter 2016 Results” on November 03, 2016, also Fool.com with their article: “How Risky Is Calumet Specialty Products Partners, LP?” published on September 16, 2016, Fool.com published: “3 Reasons Calumet Specialty Products Partners, LP Stock Could Rise” on September 22, 2016. More interesting news about Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) were released by: Prnewswire.com and their article: “Calumet Specialty Products Partners, L.P. Schedules Third Quarter 2016 Results …” published on October 13, 2016 as well as Fool.com‘s news article titled: “3 Reasons Calumet Specialty Products Partners, LP Stock Could Fall” with publication date: September 26, 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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