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

Calumet, Inc. (NASDAQ:CLMT)’s stock price traded down 6.2% during trading on Friday . The company traded as low as $30.67 and last traded at $30.7450. 487,200 shares were traded during mid-day trading, a decline of 65% from the average session volume of 1,389,507 shares. The stock had previously closed at $32.78.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group reiterated a “neutral” rating and issued a $26.00 price target on shares of Calumet in a research note on Friday, February 13th. HC Wainwright raised their target price on shares of Calumet from $33.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 30th. TD Cowen raised their target price on shares of Calumet from $19.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, March 5th. The Goldman Sachs Group cut shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 target price on the stock. in a report on Friday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Calumet in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.50.

Calumet Price Performance

The stock’s fifty day simple moving average is $30.81 and its 200-day simple moving average is $23.83. The stock has a market cap of $2.68 billion, a P/E ratio of -79.09 and a beta of 0.86.

Calumet (NASDAQ:CLMT) last released its quarterly earnings results on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.24. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted ($0.47) EPS. Analysts forecast that Calumet, Inc. will post -0.18 EPS for the current year.

Insider Buying and Selling at Calumet

In other news, Director Daniel J. Sajkowski sold 3,310 shares of Calumet stock in a transaction that occurred on Wednesday, April 1st. The stock was 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 of the company’s stock, valued at approximately $2,824,272.68. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.07% of the company’s stock.

Institutional Investors Weigh In On Calumet

A number of hedge funds have recently made changes to their positions in the business. Covestor Ltd raised its holdings in shares of Calumet by 29.1% during the fourth quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 492 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Calumet by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 12,613 shares of the oil and gas company’s stock valued at $251,000 after buying an additional 817 shares during the last quarter. Aster Capital Management DIFC Ltd raised its holdings in Calumet by 294.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 1,229 shares in the last quarter. Islay Capital Management LLC bought a new stake in Calumet during the fourth quarter worth approximately $25,000. Finally, Global Retirement Partners LLC bought a new stake in Calumet during the fourth quarter worth approximately $34,000. 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.