Traders Buy Large Volume of Put Options on Calumet Specialty Products Partners (CLMT)

Calumet Specialty Products Partners (NASDAQ:CLMT) was the target of some unusual options trading on Thursday. Traders bought 2,420 put options on the company. This is an increase of approximately 1,080% compared to the average volume of 205 put options.

CLMT opened at $7.65 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 15.72. The firm has a market cap of $622.93 million, a P/E ratio of -13.66 and a beta of 1.13. Calumet Specialty Products Partners has a 52 week low of $8.05 and a 52 week high of $9.00.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings data on Thursday, March 8th. The oil and gas company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.16. The business had revenue of $883.80 million for the quarter, compared to analyst estimates of $716.80 million. Calumet Specialty Products Partners had a negative return on equity of 31.77% and a negative net margin of 2.21%. equities analysts predict that Calumet Specialty Products Partners will post -0.57 earnings per share for the current fiscal year.

A number of analysts recently commented on CLMT shares. BidaskClub raised Calumet Specialty Products Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Zacks Investment Research raised Calumet Specialty Products Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th. Finally, ValuEngine raised Calumet Specialty Products Partners from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Calumet Specialty Products Partners has a consensus rating of “Hold” and a consensus target price of $8.19.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in Calumet Specialty Products Partners in the 4th quarter worth about $130,000. Virtu Financial LLC acquired a new stake in Calumet Specialty Products Partners in the 4th quarter worth about $178,000. SeaCrest Wealth Management LLC acquired a new stake in Calumet Specialty Products Partners in the 4th quarter worth about $179,000. Bank of New York Mellon Corp acquired a new stake in Calumet Specialty Products Partners in the 3rd quarter worth about $284,000. Finally, Raymond James & Associates boosted its stake in Calumet Specialty Products Partners by 23.0% in the 4th quarter. Raymond James & Associates now owns 38,153 shares of the oil and gas company’s stock worth $294,000 after buying an additional 7,146 shares during the last quarter. 14.13% of the stock is currently owned by institutional investors and hedge funds.

About Calumet Specialty Products Partners

Calumet Specialty Products Partners, L.P. produces and sells specialty hydrocarbon products in North America and internationally. It operates in two segments, Specialty Products and Fuel Products. The Specialty Products segment offers various lubricating oils, white mineral oils, solvents, petrolatums, waxes, synthetic lubricants, and other products which are used primarily as raw material components for basic automotive, industrial, and consumer goods.

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