Calumet (NASDAQ:CLMT) Stock Passes Above 200-Day Moving Average - Time to Sell?

Calumet, Inc. (NASDAQ:CLMT - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.36 and traded as high as $16.95. Calumet shares last traded at $16.54, with a volume of 734,470 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Bank of America initiated coverage on shares of Calumet in a research note on Tuesday, May 13th. They issued a "buy" rating and a $15.00 target price for the company. Wells Fargo & Company reduced their price objective on shares of Calumet from $23.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th. Finally, The Goldman Sachs Group dropped their price objective on Calumet from $16.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $18.50.

Calumet Stock Down 1.9%

The stock has a market capitalization of $1.45 billion, a P/E ratio of -4.21 and a beta of 0.93. The stock has a 50 day simple moving average of $15.24 and a two-hundred day simple moving average of $14.35.

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

Insider Buying and Selling

In other Calumet news, Director Jennifer Straumins sold 100,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $13.17, for a total transaction of $1,317,000.00. Following the completion of the sale, the director owned 1,084,589 shares in the company, valued at $14,284,037.13. This trade represents a 8.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $419,302.87. Following the completion of the transaction, the senior vice president directly owned 39,415 shares in the company, valued at $657,836.35. This represents a 38.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,123 shares of company stock worth $4,113,303 in the last quarter. 4.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Calumet

Several large investors have recently bought and sold shares of the company. O Keefe Stevens Advisory Inc. raised its stake 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 acquiring an additional 2,903 shares during the last quarter. Caldwell Sutter Capital Inc. grew its stake in shares of Calumet by 29.9% in the second quarter. Caldwell Sutter Capital Inc. now owns 19,483 shares of the oil and gas company's stock worth $307,000 after acquiring an additional 4,483 shares during the last quarter. Adams Asset Advisors LLC boosted its position in Calumet by 0.9% in the second quarter. Adams Asset Advisors LLC now owns 5,406,271 shares of the oil and gas company's stock worth $85,176,000 after purchasing an additional 49,948 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in 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 acquiring an additional 116,777 shares in the last quarter. Finally, Wasserstein Debt Opportunities Management L.P. increased its stake in Calumet by 3.2% in the second quarter. Wasserstein Debt Opportunities Management L.P. now owns 5,817,012 shares of the oil and gas company's stock worth $91,647,000 after purchasing an additional 180,197 shares during the period. Institutional investors own 34.41% of the company's stock.

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.