Today’s Price Action: What’s in Calumet Specialty Products Partners, L.P After Achieving 52 Week Low?

Today's Price Action: What's in Calumet Specialty Products Partners, L.P After Achieving 52 Week Low?

The stock of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) hit a new 52-week low and has $3.01 target or 14.00% below today’s $3.50 share price. The 5 months bearish chart indicates high risk for the $270.73M company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $3.01 price target is reached, the company will be worth $37.90 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. 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. Janney Capital downgraded the stock to “Neutral” rating in Monday, April 18 report. The firm has “Outperform” rating given on Monday, November 16 by RBC Capital Markets. The firm earned “Buy” rating on Monday, November 16 by DA Davidson. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, February 18. The company was downgraded on Monday, April 18 by Wells Fargo. The stock of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) has “Mkt Perform” rating given on Friday, September 9 by FBR Capital. The rating was initiated by Goldman Sachs with “Neutral” on Monday, November 23. The stock of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) earned “Underperform” rating by Credit Suisse on Monday, April 25. The firm has “Sector Perform” rating given on Friday, May 6 by RBC Capital Markets. The firm has “Sector Perform” rating given on Monday, April 18 by RBC Capital Markets.

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.
Global X Limited Liability Company last reported 16,871 shares in the company. Da Davidson & Company has invested 0% of its portfolio in Calumet Specialty Products Partners, L.P (NASDAQ:CLMT). Bancorp Of America De owns 50,657 shares or 0% of their US portfolio. Old West Mgmt Ltd Com has 47,000 shares for 0.17% of their US portfolio. Ftb Advsrs holds 500 shares or 0% of its portfolio. Fifth Third National Bank & Trust reported 31,050 shares or 0% of all its holdings. Finemark Bank & Trust & accumulated 0% or 1,100 shares. Tfs Cap Lc holds 0.04% or 46,726 shares in its portfolio. Jpmorgan Chase accumulated 0% or 2,000 shares. Linscomb & Williams Inc holds 0.05% or 97,493 shares in its portfolio. Gilman Hill Asset Mngmt Ltd last reported 21,590 shares in the company. First Allied Advisory Serv has 0.01% invested in the company for 54,121 shares. Goldman Sachs Group holds 136,545 shares or 0% of its portfolio. Exane Derivatives accumulated 0% or 102 shares. Commonwealth Of Pennsylvania School Empls Retrmt has invested 0.01% of its portfolio in Calumet Specialty Products Partners, L.P (NASDAQ:CLMT).

Insider Transactions: Since May 9, 2016, the stock had 8 insider purchases, and 0 insider sales for $596,411 net activity. Shares for $203,750 were bought by Fleming Bruce A. William A Anderson had bought 10,000 shares worth $40,700 on Monday, May 9. Shares for $14,025 were bought by Mawer Stephen P on Friday, August 19. Go Timothy bought $95,500 worth of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) on Thursday, May 12. Shares for $20,050 were bought by Murray Richard Patrick II on Monday, May 9. Carter James S also bought $99,447 worth of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) shares.

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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment