Calumet, Inc. (NASDAQ:CLMT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.03 and traded as high as $16.12. Calumet shares last traded at $15.79, with a volume of 711,518 shares changing hands.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. TD Cowen lowered Calumet from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $26.00 to $16.00 in a research note on Tuesday, March 4th. HC Wainwright reissued a "buy" rating and issued a $33.00 price target on shares of Calumet in a report on Monday, March 3rd. Bank of America assumed coverage on shares of Calumet in a report on Tuesday, May 13th. They set a "buy" rating and a $15.00 price objective for the company. Wells Fargo & Company reduced their price objective 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. Finally, The Goldman Sachs Group dropped their target price on shares of Calumet from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.50.
Check Out Our Latest Research Report on Calumet
Calumet Stock Down 0.5%
The company has a market capitalization of $1.34 billion, a P/E ratio of -3.88 and a beta of 0.91. The business has a 50 day moving average of $13.40 and a 200 day moving average of $14.90.
Calumet (NASDAQ:CLMT - Get Free Report) last posted its earnings results on Friday, May 9th. The oil and gas company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates 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. During the same period in the prior year, the company earned ($0.51) EPS. The business's revenue was down 1.2% on a year-over-year basis. On average, research analysts anticipate that Calumet, Inc. will post -3.02 EPS for the current year.
Insiders Place Their Bets
In related news, Director Jennifer Straumins sold 100,000 shares of the 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 completion of the transaction, the director now owns 1,084,589 shares of the company's stock, valued at approximately $14,284,037.13. This trade represents a 8.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the senior vice president now owns 39,415 shares of the company's stock, valued at approximately $657,836.35. This represents a 38.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 278,778 shares of company stock valued at $4,147,258 in the last three months. Corporate 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. increased its stake in Calumet, Inc. (NASDAQ:CLMT - Free Report) by 33.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 465,269 shares of the oil and gas company's stock after buying an additional 116,777 shares during the quarter. Goldman Sachs Group Inc. owned about 0.54% of Calumet worth $5,900,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 34.41% of the company's stock.
About Calumet
(
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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