Calumet, Inc. (NASDAQ:CLMT) Director Sells $1,623,000.00 in Stock

Calumet, Inc. (NASDAQ:CLMT) Director Jennifer Straumins sold 100,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 934,589 shares in the company, valued at $15,168,379.47. This represents a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Jennifer Straumins also recently made the following trade(s):

• On Friday, June 13th, Jennifer Straumins sold 50,000 shares of Calumet stock. The stock was sold at an average price of $15.08, for a total transaction of $754,000.00.
• On Thursday, June 5th, Jennifer Straumins sold 100,000 shares of Calumet stock. The stock was sold at an average price of $13.17, for a total transaction of $1,317,000.00.

Calumet Stock Down 2.7%

Shares of CLMT stock opened at $16.43 on Thursday. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -4.11 and a beta of 0.91. Calumet, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $25.29. The firm’s 50 day moving average price is $12.51 and its two-hundred day moving average price is $15.25.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, May 9th. The oil and gas company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.62). The business had revenue of $993.90 million for the quarter, compared to analysts’ expectations of $899.62 million. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.51) earnings per share. On average, equities analysts forecast that Calumet, Inc. will post -3.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on CLMT. TD Cowen cut shares of Calumet from a “buy” rating to a “hold” rating and decreased their target price for the stock from $26.00 to $16.00 in a research report on Tuesday, March 4th. Wells Fargo & Company decreased their target price 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. Bank of America began coverage on shares of Calumet in a research report on Tuesday, May 13th. They issued a “buy” rating and a $15.00 target price on the stock. The Goldman Sachs Group decreased their target price on shares of Calumet from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, UBS Group raised shares of Calumet from a “sell” rating to a “neutral” rating and reduced their price target for the company from $15.00 to $12.00 in a research report on Monday, March 17th. 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 company. Based on data from MarketBeat, Calumet has an average rating of “Hold” and a consensus target price of $18.50.

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.