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

Calumet logo with Energy background

Calumet, Inc. (NASDAQ:CLMT - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $18.50.

CLMT has been the subject of several recent analyst reports. UBS Group raised shares of Calumet from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $15.00 to $12.00 in a report on Monday, March 17th. The Goldman Sachs Group decreased their price objective on shares of Calumet from $16.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company decreased their price objective on shares of Calumet from $23.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Finally, Bank of America initiated coverage on shares of Calumet in a research note on Tuesday, May 13th. They set a "buy" rating and a $15.00 target price for the company.

Check Out Our Latest Analysis on Calumet

Calumet Stock Down 2.5%

CLMT stock traded down $0.42 during trading hours on Friday, hitting $16.64. The company's stock had a trading volume of 879,520 shares, compared to its average volume of 1,045,353. The company has a market capitalization of $1.43 billion, a PE ratio of -4.16 and a beta of 0.93. Calumet has a 12 month low of $7.68 and a 12 month high of $25.29. The stock has a 50 day moving average price of $14.14 and a two-hundred day moving average price of $14.67.

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

Insider Activity at Calumet

In related news, Director Jennifer Straumins sold 100,000 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $13.17, for a total transaction of $1,317,000.00. Following the completion of the transaction, the director directly owned 1,084,589 shares in the company, valued at $14,284,037.13. This represents a 8.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen P. Mawer sold 3,655 shares of the stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $9.29, for a total transaction of $33,954.95. Following the completion of the transaction, the director owned 283,652 shares of the company's stock, valued at approximately $2,635,127.08. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 278,778 shares of company stock worth $4,147,258 in the last ninety days. 4.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Calumet

A hedge fund recently raised its stake in Calumet stock. Goldman Sachs Group Inc. grew its holdings in Calumet, Inc. (NASDAQ:CLMT - Free Report) by 33.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 465,269 shares of the oil and gas company's stock after buying an additional 116,777 shares during the quarter. Goldman Sachs Group Inc. owned 0.54% of Calumet worth $5,900,000 as of its most recent filing with the SEC. 34.41% of the stock is currently owned by institutional investors.

Calumet Company Profile

(Get Free Report

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.

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