Calumet, Inc. (NASDAQ:CLMT - Get Free Report)'s share price passed 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.
Analysts Set New Price Targets
Several research firms have recently weighed in on CLMT. 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 price target for the company. Wells Fargo & Company reduced their target price on shares of Calumet from $23.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th. The Goldman Sachs Group reduced their target price on shares of Calumet from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, UBS Group upgraded shares of Calumet from a "sell" rating to a "neutral" rating and reduced their target price for the stock from $15.00 to $12.00 in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Calumet currently has an average rating of "Hold" and a consensus price target of $18.50.
Get Our Latest Research Report on Calumet
Calumet Stock Performance
The company has a market capitalization of $1.39 billion, a PE ratio of -4.05 and a beta of 0.93. The company's 50-day simple moving average is $14.58 and its 200-day simple moving average is $14.55.
Calumet (NASDAQ:CLMT - Get Free Report) last issued 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 business had revenue of $993.90 million for the quarter, compared to the consensus estimate of $899.62 million. During the same quarter in the prior year, the firm earned ($0.51) earnings per share. The business's revenue was down 1.2% compared to the same quarter last year. Analysts expect that Calumet, Inc. will post -3.02 EPS for the current year.
Insider Activity
In related news, Director Stephen P. Mawer sold 3,655 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The shares were 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 $2,635,127.08. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jennifer Straumins sold 100,000 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $16.23, for a total transaction of $1,623,000.00. Following the completion of the sale, the director owned 934,589 shares of the company's stock, valued at $15,168,379.47. This trade represents a 9.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 278,778 shares of company stock valued at $4,147,258 over the last quarter. Corporate insiders own 4.07% of the company's stock.
Hedge Funds Weigh In On Calumet
Institutional investors have recently modified their holdings of the company. Caldwell Sutter Capital Inc. raised its position 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 valued at $307,000 after buying an additional 4,483 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Calumet by 33.5% in 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. Finally, Adams Asset Advisors LLC increased its position 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 worth $85,176,000 after purchasing an additional 49,948 shares during the last quarter. Institutional investors and hedge funds own 34.41% of the company's stock.
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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