Calumet (NASDAQ:CLMT) Director Sells $153,318.40 in Stock

Calumet, Inc. (NASDAQ:CLMT) Director Daniel Sajkowski sold 4,240 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $36.16, for a total transaction of $153,318.40. Following the transaction, the director owned 77,718 shares in the company, valued at $2,810,282.88. This represents a 5.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Calumet Price Performance

Shares of CLMT opened at $36.42 on Friday. Calumet, Inc. has a one year low of $12.94 and a one year high of $38.75. The company has a market cap of $3.17 billion, a PE ratio of -16.86 and a beta of 0.72. The stock has a 50-day moving average of $33.84 and a 200-day moving average of $28.91.

Calumet (NASDAQ:CLMT) last posted its quarterly earnings results on Friday, May 8th. The oil and gas company reported ($3.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($3.31). The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the business posted ($1.87) earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Analysts expect that Calumet, Inc. will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Calumet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Calumet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 4,703,040 shares of the oil and gas company’s stock worth $93,449,000 after buying an additional 58,376 shares during the last quarter. Bank of America Corp DE increased its position in shares of Calumet by 65.1% during the first quarter. Bank of America Corp DE now owns 1,153,744 shares of the oil and gas company’s stock valued at $41,419,000 after acquiring an additional 454,985 shares during the last quarter. Marshall Wace LLP lifted its holdings in Calumet by 35.8% during the third quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock worth $16,268,000 after acquiring an additional 234,766 shares during the period. Renaissance Technologies LLC bought a new stake in Calumet during the first quarter worth $14,066,000. Finally, Mariner LLC boosted its position 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 during the last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Weiss Ratings raised shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. TD Cowen restated a “hold” rating on shares of Calumet in a report on Wednesday, June 3rd. HC Wainwright raised their price objective on shares of Calumet from $33.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, March 30th. Finally, The Goldman Sachs Group cut shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.75.

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.