Calumet (NASDAQ:CLMT) Stock Price Down 2.7% on Insider Selling

Calumet, Inc. (NASDAQ:CLMT - Get Free Report) was down 2.7% on Wednesday after an insider sold shares in the company. The company traded as low as $16.27 and last traded at $16.43. Approximately 209,452 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 958,886 shares. The stock had previously closed at $16.88.

Specifically, Director Jennifer Straumins sold 100,000 shares of Calumet stock in a transaction on Monday, June 16th. The stock was sold at an average price of $16.23, for a total transaction of $1,623,000.00. Following the transaction, the director now directly owns 934,589 shares in the company, valued at approximately $15,168,379.47. The trade was a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jennifer Straumins sold 50,000 shares of Calumet stock in a transaction on Friday, June 13th. The shares were sold at an average price of $15.08, for a total transaction of $754,000.00. Following the transaction, the director now owns 1,034,589 shares in the company, valued at approximately $15,601,602.12. This trade represents a 4.61% decrease in their position. The disclosure for this sale can be found here. In other Calumet news, SVP Gregory J. Morical sold 25,123 shares of the stock in a transaction on 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 sale, the senior vice president now owns 39,415 shares in the company, valued at approximately $657,836.35. This represents a 38.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several research firms have weighed in on CLMT. Wells Fargo & Company dropped their price target on Calumet from $23.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th. HC Wainwright restated a "buy" rating and set a $33.00 target price on shares of Calumet in a research report on Monday, March 3rd. TD Cowen downgraded shares of Calumet from a "buy" rating to a "hold" rating and reduced their price target for the company from $26.00 to $16.00 in a report on Tuesday, March 4th. 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 on the stock. Finally, UBS Group upgraded 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 assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $18.50.

Calumet Stock Performance

The stock has a fifty day moving average of $12.78 and a 200-day moving average of $15.17. The company has a market cap of $1.41 billion, a PE ratio of -4.09 and a beta of 0.91.

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

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.