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

Calumet, Inc. (NASDAQ:CLMT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.83 and traded as high as $16.82. Calumet shares last traded at $16.34, with a volume of 1,282,363 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CLMT. 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 research report on Wednesday, May 14th. Bank of America began 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 cut their price objective on shares of Calumet from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, UBS Group raised shares of Calumet from a "sell" rating to a "neutral" rating and cut their price objective for the company from $15.00 to $12.00 in a research report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $18.50.

Calumet Trading Up 2.2%

The firm has a market cap of $1.44 billion, a P/E ratio of -4.18 and a beta of 0.93. The company's 50 day simple moving average is $14.02 and its 200-day simple moving average is $14.73.

Calumet (NASDAQ:CLMT - Get Free Report) last posted its 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 business had revenue of $993.90 million for the quarter, compared to analyst estimates of $899.62 million. The business's revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.51) EPS. On average, sell-side analysts anticipate that Calumet, Inc. will post -3.02 earnings per share for the current year.

Insider Buying and Selling at Calumet

In other Calumet news, SVP Gregory J. Morical sold 25,123 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $16.69, for a total transaction of $419,302.87. Following the transaction, the senior vice president owned 39,415 shares in the company, valued at approximately $657,836.35. This represents a 38.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen P. Mawer sold 3,655 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $9.29, for a total transaction of $33,954.95. Following the completion of the transaction, the director owned 283,652 shares in the company, valued at $2,635,127.08. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 278,778 shares of company stock worth $4,147,258. Company insiders own 4.07% of the company's stock.

Hedge Funds Weigh In On Calumet

A hedge fund recently raised its stake in Calumet stock. Goldman Sachs Group Inc. lifted its holdings in Calumet, Inc. (NASDAQ:CLMT - Free Report) by 33.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 465,269 shares of the oil and gas company's stock after purchasing an additional 116,777 shares during the period. Goldman Sachs Group Inc. owned about 0.54% of Calumet worth $5,900,000 at the end of the most recent reporting 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.