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

Calumet, Inc. (NASDAQ:CLMT - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CLMT. Wells Fargo & Company lowered their target price on Calumet from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 14th. Bank of America started coverage on Calumet in a research report on Tuesday, May 13th. They set a "buy" rating and a $15.00 target price on the stock. Finally, The Goldman Sachs Group lowered their price target on Calumet from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $18.50.

Calumet Stock Performance

The firm has a 50-day moving average of $15.37 and a 200-day moving average of $14.28. The firm has a market capitalization of $1.45 billion, a P/E ratio of -4.22 and a beta of 0.93.

Calumet (NASDAQ:CLMT - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $899.62 million. Calumet's revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.51) EPS. Equities analysts anticipate that Calumet, Inc. will post -3.02 EPS for the current fiscal year.

Insider Activity at Calumet

In other Calumet news, SVP Gregory J. Morical sold 25,123 shares of Calumet stock in a transaction 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 owned 39,415 shares in the company, valued at approximately $657,836.35. The trade was a 38.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jennifer Straumins sold 100,000 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $16.23, for a total value of $1,623,000.00. Following the completion of the transaction, the director owned 934,589 shares of the company's stock, valued at $15,168,379.47. This represents a 9.67% 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 over the last 90 days. 4.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Calumet

Hedge funds have recently bought and sold shares of the company. Caldwell Sutter Capital Inc. increased its position in 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 acquiring an additional 4,483 shares during the last quarter. O Keefe Stevens Advisory Inc. grew its holdings in 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. grew its holdings 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 purchasing an additional 116,777 shares during the period. Adams Asset Advisors LLC grew its holdings in 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. Finally, Wasserstein Debt Opportunities Management L.P. grew its holdings in Calumet by 3.2% during the second quarter. Wasserstein Debt Opportunities Management L.P. now owns 5,817,012 shares of the oil and gas company's stock valued at $91,647,000 after purchasing an additional 180,197 shares during the period. Hedge funds and other institutional investors own 34.41% of the company's stock.

Calumet Company Profile

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.