Calumet, Inc. (NASDAQ:CLMT) Given Consensus Rating of “Moderate Buy” by Analysts

Calumet, Inc. (NASDAQ:CLMT) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $18.7083.

CLMT has been the subject of several analyst reports. Bank of America initiated coverage on Calumet in a report on Tuesday, May 13th. They set a “buy” rating and a $15.00 target price for the company. The Goldman Sachs Group reduced their price objective on shares of Calumet from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. UBS Group raised their target price on shares of Calumet from $12.00 to $13.25 and gave the stock a “neutral” rating in a report on Tuesday, August 12th. Finally, Wells Fargo & Company dropped 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.

Insider Buying and Selling at Calumet

In other news, Director Jennifer Straumins sold 100,000 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $16.23, for a total value of $1,623,000.00. Following the completion of the sale, the director owned 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Gregory J. Morical sold 25,123 shares of Calumet stock in a transaction on Monday, June 16th. The shares were sold at an average price of $16.69, for a total value of $419,302.87. Following the transaction, the senior vice president owned 39,415 shares in the company, valued at $657,836.35. This represents a 38.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,123 shares of company stock worth $4,113,303. Company insiders own 4.07% of the company’s stock.

Institutional Investors Weigh In On Calumet

A number of institutional investors have recently modified their holdings of CLMT. Amalgamated Bank acquired a new position in shares of Calumet in the second quarter worth $37,000. University of Texas Texas AM Investment Management Co. boosted its position in Calumet by 109.4% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 3,350 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 1,750 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Calumet in the second quarter valued at about $111,000. Premier Path Wealth Partners LLC increased its position in Calumet by 11.4% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 12,853 shares of the oil and gas company’s stock worth $202,000 after purchasing an additional 1,320 shares during the last quarter. Finally, SP Asset Management LLC purchased a new stake in shares of Calumet during the 2nd quarter worth about $205,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

Calumet Stock Performance

Calumet stock opened at $16.18 on Friday. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -3.10 and a beta of 0.91. Calumet has a 1 year low of $7.68 and a 1 year high of $25.29. The firm’s 50 day moving average price is $15.70 and its two-hundred day moving average price is $13.82.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, August 8th. The oil and gas company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($1.26). The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $982.88 million. The business’s revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.48) EPS. As a group, equities analysts predict that Calumet will post -3.02 EPS for the current fiscal year.

About Calumet

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.