Calumet (NASDAQ:CLMT) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Calumet, Inc. (NASDAQ:CLMT)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-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 changing hands.

Analyst Ratings Changes

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

Calumet Stock Performance

The firm has a 50 day simple moving average of $33.45 and a 200 day simple moving average of $28.34. The firm has a market cap of $3.07 billion, a P/E ratio of -16.30 and a beta of 0.73.

Calumet (NASDAQ:CLMT) last posted its 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 business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the firm earned ($1.87) earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Sell-side analysts predict that Calumet, Inc. will post -0.28 EPS for the current fiscal year.

Insider Activity at Calumet

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

Institutional Investors Weigh In On Calumet

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Calumet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 4,703,040 shares of the oil and gas company’s stock valued at $93,449,000 after buying an additional 58,376 shares during the period. Bank of America Corp DE raised its holdings in shares of 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 acquiring an additional 454,985 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Calumet by 35.8% in the 3rd quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock valued at $16,268,000 after acquiring an additional 234,766 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Calumet during the 1st quarter valued at about $14,066,000. Finally, Mariner LLC boosted its position in shares of Calumet by 959.6% during the 3rd quarter. Mariner LLC now owns 369,408 shares of the oil and gas company’s stock valued at $6,742,000 after acquiring an additional 334,544 shares during the last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.

About Calumet

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.