Calumet (NASDAQ:CLMT) Shares Pass Above 200-Day Moving Average - What's Next?

Calumet, Inc. (NASDAQ:CLMT - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.64 and traded as high as $17.04. Calumet shares last traded at $16.78, with a volume of 668,439 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Bank of America initiated coverage on shares of Calumet in a research report on Tuesday, May 13th. They set a "buy" rating and a $15.00 price objective on the stock. The Goldman Sachs Group lowered their price target on Calumet from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company cut their price objective on Calumet from $23.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Finally, UBS Group raised Calumet from a "sell" rating to a "neutral" rating and lowered their target price for the company from $15.00 to $12.00 in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $18.50.

Calumet Price Performance

The company has a 50-day moving average of $14.58 and a two-hundred day moving average of $14.64. The company has a market capitalization of $1.45 billion, a PE ratio of -4.20 and a beta of 0.93.

Calumet (NASDAQ:CLMT - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The oil and gas company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.62). The firm had revenue of $993.90 million during the quarter, compared to analysts' expectations of $899.62 million. The firm's revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.51) earnings per share. As a group, research analysts anticipate that Calumet, Inc. will post -3.02 EPS for the current year.

Insiders Place Their Bets

In other Calumet news, Director Stephen P. Mawer sold 3,655 shares of the stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $9.29, for a total value of $33,954.95. Following the completion of the sale, the director owned 283,652 shares in the company, valued at approximately $2,635,127.08. This represents a 1.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jennifer Straumins sold 100,000 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $13.17, for a total value of $1,317,000.00. Following the sale, 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. Insiders sold a total of 278,778 shares of company stock worth $4,147,258 over the last three months. 4.07% of the stock is currently owned by company insiders.

Institutional Trading of Calumet

Several institutional investors have recently made changes to their positions in the business. Caldwell Sutter Capital Inc. lifted its holdings in Calumet by 29.9% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 19,483 shares of the oil and gas company's stock worth $307,000 after purchasing an additional 4,483 shares in the last quarter. Goldman Sachs Group Inc. raised 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 buying an additional 116,777 shares during the last quarter. Finally, Adams Asset Advisors LLC lifted its holdings in shares of 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 buying an additional 49,948 shares in the last quarter. Hedge funds and other 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.

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