Calumet (NASDAQ:CLMT) Stock Price Down 6.2% - Should You Sell?

Key Points

• Shares fell 6.2% intraday to $30.75 on Friday, trading about 487,200 shares (roughly 65% below average); the stock sits near its consensus target of $30.50 and has a market cap of $2.68 billion.
• Analysts are mixed with a consensus “Hold” (3 Buys, 4 Holds, 1 Sell) and price targets ranging widely (roughly $26 to $60), signaling disagreement on the stock’s outlook.
• Calumet reported Q4 EPS of -$0.43, beating estimates by $0.24 and revenue of $1.04 billion (up 9.4% YoY), yet analysts still project about -$0.18 EPS for the current year.

Calumet, Inc. (NASDAQ:CLMT - Get Free Report) dropped 6.2% during mid-day trading on Friday . The stock traded as low as $30.67 and last traded at $30.7450. Approximately 487,200 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 1,389,507 shares. The stock had previously closed at $32.78.

Analysts Set New Price Targets

CLMT has been the subject of several recent research reports. UBS Group reiterated a "neutral" rating and issued a $26.00 price target on shares of Calumet in a report on Friday, February 13th. The Goldman Sachs Group downgraded Calumet from a "buy" rating to a "neutral" rating and set a $36.00 price target for the company. in a report on Friday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Calumet in a report on Monday, December 29th. HC Wainwright increased their price target on Calumet from $33.00 to $60.00 and gave the company a "buy" rating in a report on Monday, March 30th. Finally, TD Cowen increased their price target on Calumet from $19.00 to $25.00 and gave the company a "hold" rating in a report on Thursday, March 5th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $30.50.

Calumet Stock Down 5.7%

The firm has a 50 day moving average price of $30.81 and a two-hundred day moving average price of $23.83. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -79.09 and a beta of 0.86.

Calumet (NASDAQ:CLMT - Get Free Report) last announced its earnings results on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.24. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. The firm's revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.47) earnings per share. Analysts predict that Calumet, Inc. will post -0.18 earnings per share for the current year.

Insider Buying and Selling at Calumet

In other news, Director Daniel J. Sajkowski sold 3,310 shares of the firm's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $34.46, for a total transaction of $114,062.60. Following the completion of the sale, the director directly owned 81,958 shares in the company, valued at $2,824,272.68. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Calumet

A number of hedge funds have recently bought and sold shares of CLMT. Mariner LLC grew its stake in Calumet by 959.6% in the third quarter. Mariner LLC now owns 369,408 shares of the oil and gas company's stock worth $6,742,000 after purchasing an additional 334,544 shares in the last quarter. Marshall Wace LLP grew its stake in Calumet by 35.8% in the third quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company's stock worth $16,268,000 after purchasing an additional 234,766 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Calumet by 128.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 348,115 shares of the oil and gas company's stock worth $6,917,000 after purchasing an additional 195,627 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Calumet by 18,512.3% in the second quarter. BNP Paribas Financial Markets now owns 183,890 shares of the oil and gas company's stock worth $2,897,000 after purchasing an additional 182,902 shares in the last quarter. Finally, UBS Group AG grew its stake in Calumet by 90.0% in the fourth quarter. UBS Group AG now owns 358,628 shares of the oil and gas company's stock worth $7,126,000 after purchasing an additional 169,900 shares in the last quarter. 34.41% of the stock is currently owned by institutional investors and hedge funds.

Calumet Company Profile

Calumet Specialty Products Partners, L.P. NASDAQ: CLMT is an independent provider of high-value, essential product solutions derived from both petroleum and renewable feedstocks. The company operates an integrated network of manufacturing plants, blending terminals and storage facilities across North America, delivering customized products and technical services to industrial, automotive, consumer and agricultural end markets. By leveraging its scale and technical expertise, Calumet tailors supply chain and formulation solutions to meet stringent regulatory and performance requirements.

Calumet's product portfolio includes specialty lubricants and base oils for high-performance applications; process oils and waxes for food-grade, cosmetic and packaging uses; industrial solvents and cleaning solutions; and fuel additives designed to optimize engine performance and emissions.

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