Calumet, Inc. (NASDAQ:CLMT) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Calumet, Inc. has received an average rating of "Moderate Buy" from six analysts, with a price target of $18.50 for the next twelve months.
• The company reported a quarterly loss of ($1.03) EPS, significantly missing estimates and experiencing a 1.2% decline in revenue year-over-year.
• Insider trading activities saw significant sales, with two executives selling a total of 275,123 shares worth over $4 million in the last three months.

Shares of Calumet, Inc. (NASDAQ:CLMT - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $18.50.

A number of research analysts recently weighed in on the company. Wells Fargo & Company cut their price objective on Calumet from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 14th. The Goldman Sachs Group cut their price objective on Calumet from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, Bank of America assumed coverage on Calumet in a research note on Tuesday, May 13th. They issued a "buy" rating and a $15.00 price objective on the stock.

Calumet Price Performance

Shares of CLMT stock traded down $0.58 during trading on Tuesday, reaching $15.36. The company had a trading volume of 134,469 shares, compared to its average volume of 1,237,193. The firm's 50 day simple moving average is $15.57 and its two-hundred day simple moving average is $14.13. Calumet has a one year low of $7.68 and a one year high of $25.29. The company has a market capitalization of $1.32 billion, a PE ratio of -3.83 and a beta of 0.93.

Calumet (NASDAQ:CLMT - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The oil and gas company reported ($1.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.62). The company had revenue of $993.90 million during the quarter, compared to analyst estimates of $899.62 million. During the same quarter last year, the firm earned ($0.51) earnings per share. The business's quarterly revenue was down 1.2% compared to the same quarter last year. Analysts forecast that Calumet will post -3.02 earnings per share for the current year.

Insider Activity at Calumet

In other Calumet news, SVP Gregory J. Morical sold 25,123 shares of Calumet stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $16.69, for a total value of $419,302.87. Following the transaction, the senior vice president directly owned 39,415 shares of the company's stock, valued at $657,836.35. The trade was a 38.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jennifer Straumins sold 100,000 shares of Calumet stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $13.17, for a total value of $1,317,000.00. Following the completion of the transaction, the director directly owned 1,084,589 shares in the company, valued at approximately $14,284,037.13. This represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 275,123 shares of company stock worth $4,113,303. Company insiders own 4.07% of the company's stock.

Institutional Trading of Calumet

A number of institutional investors and hedge funds have recently modified their holdings of CLMT. University of Texas Texas AM Investment Management Co. increased its position in shares of Calumet by 109.4% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 3,350 shares of the oil and gas company's stock valued at $53,000 after purchasing an additional 1,750 shares during the period. Caldwell Sutter Capital Inc. increased its position in shares of Calumet by 29.9% during the second quarter. Caldwell Sutter Capital Inc. now owns 19,483 shares of the oil and gas company's stock valued at $307,000 after purchasing an additional 4,483 shares during the period. O Keefe Stevens Advisory Inc. increased its position in shares of Calumet by 12.1% during the second quarter. O Keefe Stevens Advisory Inc. now owns 26,817 shares of the oil and gas company's stock valued at $423,000 after purchasing an additional 2,903 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Calumet by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 465,269 shares of the oil and gas company's stock valued at $5,900,000 after purchasing an additional 116,777 shares during the period. Finally, Adams Asset Advisors LLC increased its position in shares of Calumet by 0.9% during the second quarter. Adams Asset Advisors LLC now owns 5,406,271 shares of the oil and gas company's stock valued at $85,176,000 after purchasing an additional 49,948 shares during the period. 34.41% of the stock is currently owned by institutional investors.

About Calumet

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.