Calumet (NASDAQ:CLMT) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

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

Analyst Ratings Changes

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

Calumet Trading Up 2.2%

The firm has a market capitalization of $1.44 billion, a P/E ratio of -4.18 and a beta of 0.93. The business has a 50 day moving average of $13.77 and a 200-day moving average of $14.83.

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 firm had revenue of $993.90 million for the quarter, compared to the consensus estimate of $899.62 million. During the same period last year, the company earned ($0.51) earnings per share. The firm's quarterly revenue was down 1.2% compared to the same quarter last year. On average, analysts anticipate that Calumet, Inc. will post -3.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Calumet news, SVP Gregory J. Morical sold 25,123 shares of Calumet stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $16.69, for a total value of $419,302.87. Following the sale, the senior vice president owned 39,415 shares of the company's stock, valued at $657,836.35. This trade represents a 38.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jennifer Straumins sold 100,000 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $13.17, for a total value of $1,317,000.00. Following the transaction, the director directly owned 1,084,589 shares of the company's stock, valued at $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. In the last ninety days, insiders sold 278,778 shares of company stock valued at $4,147,258. Company insiders own 4.07% of the company's stock.

Hedge Funds Weigh In On Calumet

An institutional investor recently raised its position in Calumet stock. Goldman Sachs Group Inc. lifted its holdings in Calumet, Inc. (NASDAQ:CLMT - Free Report) by 33.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 465,269 shares of the oil and gas company's stock after purchasing an additional 116,777 shares during the quarter. Goldman Sachs Group Inc. owned 0.54% of Calumet worth $5,900,000 as of its most recent SEC filing. 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.