Calumet (NASDAQ:CLMT) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Calumet's stock passed above its 200-day moving average (200‑day MA $23.12), trading as high as $34.63 and last at $32.90 on volume of about 1.43 million shares.
• Analysts have raised targets—Goldman Sachs to $34 and HC Wainwright to $60—but the consensus rating is a “Hold” with an average target of $30.17 (4 Buys, 3 Holds, 1 Sell).
• Calumet beat quarterly EPS estimates (‑$0.43 vs. ‑$0.67) and revenue rose 9.4% YoY to $1.04B, yet the company remains unprofitable with a negative P/E and analysts forecasting ~‑3.02 EPS for the year; an insider sold shares and institutional ownership is ~34%.

Calumet, Inc. (NASDAQ:CLMT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.12 and traded as high as $34.63. Calumet shares last traded at $32.90, with a volume of 1,427,948 shares changing hands.

Analysts Set New Price Targets

CLMT has been the subject of several research reports. The Goldman Sachs Group upped their price objective on shares of Calumet from $24.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday, March 12th. TD Cowen lifted their target price on shares of Calumet from $19.00 to $25.00 and gave the company a "hold" rating in a research note on Thursday, March 5th. HC Wainwright boosted their price target on shares of Calumet from $33.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, March 30th. UBS Group reissued a "neutral" rating and issued a $26.00 price target on shares of Calumet in a research note on Friday, February 13th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Calumet in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $30.17.

Calumet Stock Down 2.2%

The business has a fifty day simple moving average of $29.65 and a 200-day simple moving average of $23.12. The firm has a market cap of $2.85 billion, a P/E ratio of -84.36 and a beta of 0.86.

Calumet (NASDAQ:CLMT - Get Free Report) last announced its quarterly earnings data on Friday, February 27th. The oil and gas company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.24. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.04 billion. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.47) EPS. On average, sell-side analysts anticipate that Calumet, Inc. will post -3.02 EPS for the current fiscal year.

Insider Transactions at Calumet

In related news, Director Daniel J. Sajkowski sold 3,310 shares of Calumet stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $34.46, for a total transaction of $114,062.60. Following the completion of the transaction, the director directly owned 81,958 shares of the company's stock, valued at $2,824,272.68. This trade represents a 3.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Calumet

A number of institutional investors and hedge funds have recently made changes to their positions in CLMT. Tulsa Wealth Advisors INC purchased a new position in shares of Calumet during the fourth quarter valued at approximately $212,000. Invesco Ltd. increased its position in Calumet by 13.6% during the 4th quarter. Invesco Ltd. now owns 123,607 shares of the oil and gas company's stock valued at $2,456,000 after buying an additional 14,769 shares in the last quarter. Numerai GP LLC purchased a new position in Calumet during the fourth quarter valued at $620,000. Millennium Management LLC boosted its holdings in Calumet by 119.9% in the fourth quarter. Millennium Management LLC now owns 13,902 shares of the oil and gas company's stock worth $276,000 after acquiring an additional 83,844 shares in the last quarter. Finally, Trexquant Investment LP grew its stake in shares of Calumet by 45.5% in the fourth quarter. Trexquant Investment LP now owns 265,637 shares of the oil and gas company's stock worth $5,278,000 after acquiring an additional 83,093 shares during the last quarter. Institutional investors own 34.41% of the company's stock.

About Calumet

Calumet Specialty Products Partners, L.P. NASDAQ: CLMT is an independent provider of high-value, essential product solutions derived from both petroleum and renewable feedstocks. The company operates an integrated network of manufacturing plants, blending terminals and storage facilities across North America, delivering customized products and technical services to industrial, automotive, consumer and agricultural end markets. By leveraging its scale and technical expertise, Calumet tailors supply chain and formulation solutions to meet stringent regulatory and performance requirements.

Calumet's product portfolio includes specialty lubricants and base oils for high-performance applications; process oils and waxes for food-grade, cosmetic and packaging uses; industrial solvents and cleaning solutions; and fuel additives designed to optimize engine performance and emissions.

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