Price Action to Note: Could Calumet Specialty Products Partners, L.P See a Reversal After This Very Strong Session?

Price Action to Note: Could Calumet Specialty Products Partners, L.P See a Reversal After This Very Strong Session?

The stock of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) is a huge mover today! The stock last traded at $3.5 per share. It is down 70.54% since April 8, 2016 and is downtrending. It has underperformed by 76.19% the S&P500.
The move comes after 9 months positive chart setup for the $270.73M company. It was reported on Nov, 10 by Barchart.com. We have $7.60 PT which if reached, will make NASDAQ:CLMT worth $316.75M more.

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”, 2 “Sell”, while 6 “Hold”. This means 20% are positive. Calumet Specialty Products Partners LP has been the topic of 22 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) earned “Underperform” rating by Credit Suisse on Monday, April 25. RBC Capital Markets reinitiated Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) rating on Monday, November 16. RBC Capital Markets has “Outperform” rating and $32.0 price target. The stock has “Sector Perform” rating given by RBC Capital Markets on Friday, May 6. As per Monday, April 18, the company rating was downgraded by RBC Capital Markets. The company was initiated on Monday, November 23 by Goldman Sachs. As per Monday, April 18, the company rating was downgraded by Raymond James. Wells Fargo downgraded the shares of CLMT in a report on Monday, April 18 to “Market Perform” rating. The rating was initiated by FBR Capital on Friday, September 9 with “Mkt Perform”. Credit Suisse downgraded Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) on Friday, February 19 to “Neutral” rating. The rating was maintained by Cowen & Co with “Buy” on Thursday, February 18.

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 dropped, 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.
Fifth Third Financial Bank last reported 0% of its portfolio in the stock. Moreover, Pnc Financial Services Grp Inc Incorporated has 0% invested in Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) for 28,988 shares. Geode Capital Limited Liability Corporation owns 39,003 shares or 0% of their US portfolio. Parallax Volatility Advisers L P has 21,376 shares for 0% of their US portfolio. Bessemer Grp Incorporated holds 0% or 4,500 shares in its portfolio. Barnett And Company Inc holds 77,950 shares or 0.21% of its portfolio. Fort Point Ltd Llc owns 20,000 shares or 0.05% of their US portfolio. Alliancebernstein L P holds 0% or 10,445 shares in its portfolio. Peak6 Limited Partnership holds 0% or 14,550 shares in its portfolio. Gsa Cap Prns Limited Liability Partnership holds 0.01% or 39,300 shares in its portfolio. Barclays Public Limited accumulated 0% or 80,074 shares. Gilman Hill Asset Mngmt Lc owns 21,590 shares or 0.04% of their US portfolio. Spirit Of America Mgmt Corporation Ny last reported 0.26% of its portfolio in the stock. Albert D Mason holds 19,997 shares or 0.06% of its portfolio. First Allied Advisory Services, a Missouri-based fund reported 54,121 shares.

Insider Transactions: Since May 12, 2016, the stock had 6 insider purchases, and 0 sales for $312,769 net activity. $14,025 worth of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) was bought by Mawer Stephen P on Friday, August 19. The insider Go Timothy bought 25,000 shares worth $95,500. Fleming Bruce A also bought $82,500 worth of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) on Wednesday, August 24. 26,700 shares with value of $99,447 were bought by Carter James S on Tuesday, May 17. William A Anderson had bought 18,170 shares worth $61,778.

More notable recent Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) news were published by: Fool.com which released: “How Risky Is Calumet Specialty Products Partners, LP?” on September 16, 2016, also Fool.com with their article: “3 Reasons Calumet Specialty Products Partners, LP Stock Could Fall” published on September 26, 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: “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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