Calumet Specialty Stock Has Doubled in 2017
Calumet Specialty’s rise
So far, Calumet Specialty Products Partners (CLMT) stock has nearly doubled in 2017. Its 50-day moving average crossed above its 200-day moving average at the end of June 2017, which is considered a bullish indicator.
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The above graph shows Calumet Specialty Products Partners’ YTD (year-to-date) stock price movement. Calumet Specialty Products Partners was trading 35% above its 50-day simple moving average and 76% above its 200-day simple moving average as of September 13, 2017, which indicates strength in the stock. Calumet Specialty Products Partners has been trading above its 50-day and 200-day moving average since July 2017.
In comparison, CVR Refining (CVRR) has fallen 12% and Alon USA Partners (ALDW) has risen 18% YTD. The Alerian MLP ETF (AMLP) has fallen 10% YTD. The NASDAQ Composite Index (COMP-INDEX) has risen nearly 20% during the same period. Notably, the energy sector forms ~0.5% of the NASDAQ Composite Index.
Superior refinery sale
Calumet Specialty Products Partners has largely been on an uptrend since last month. It announced the sale of its Superior refinery.
In this series, we’ll analyze Calumet Specialty Products Partners’ performance. We’ll discuss various steps that the company has taken in the past year to stabilize its performance and enhance its liquidity profile. We’ll also look at changes in institutional ownership and short interest in Calumet Specialty Products Partners. We’ll discuss Wall Street analysts’ current recommendations.
In the next part, we’ll start with an analysis of the company’s segmental performance.