Calumet (NASDAQ:CLMT) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Calumet, Inc. (NASDAQ:CLMT) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $28.34 and traded as high as $35.66. Calumet shares last traded at $35.2050, with a volume of 2,688,460 shares trading hands.

Analyst Ratings Changes

A number of research firms recently issued reports on CLMT. The Goldman Sachs Group downgraded shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a research report on Friday, April 24th. 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 reiterated a “hold” rating on shares of Calumet in a research note on Wednesday, June 3rd. Finally, HC Wainwright boosted their price objective on shares of Calumet from $33.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, March 30th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.75.

Calumet Price Performance

The firm has a 50-day simple moving average of $33.45 and a 200 day simple moving average of $28.34. The company has a market capitalization of $3.07 billion, a PE ratio of -16.30 and a beta of 0.73.

Calumet (NASDAQ:CLMT) last issued its earnings results on Friday, May 8th. The oil and gas company reported ($3.64) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($3.31). The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the firm earned ($1.87) earnings per share. Calumet’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities research analysts expect that Calumet, Inc. will post -0.28 EPS for the current fiscal year.

Insider Activity at Calumet

In other Calumet news, major shareholder Group Heritage sold 626,998 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $32.54, for a total value of $20,402,514.92. Following the completion of the sale, the insider owned 12,980,211 shares of the company’s stock, valued at $422,376,065.94. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel J. Sajkowski sold 3,310 shares of Calumet stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $34.46, for a total transaction of $114,062.60. Following the sale, the director owned 81,958 shares in the company, valued at $2,824,272.68. This represents a 3.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in Calumet by 65.1% in the 1st 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 buying an additional 454,985 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Calumet during the first quarter worth about $14,066,000. Mariner LLC increased its position in shares of Calumet by 959.6% during the third quarter. Mariner LLC now owns 369,408 shares of the oil and gas company’s stock worth $6,742,000 after acquiring an additional 334,544 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of 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 acquiring an additional 234,766 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of 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 acquiring an additional 195,627 shares in the last quarter. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

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.