Calumet (NASDAQ:CLMT) Stock Price Up 5.3% – Should You Buy?

Shares of Calumet, Inc. (NASDAQ:CLMT) rose 5.3% on Wednesday . The stock traded as high as $38.91 and last traded at $39.14. 188,706 shares traded hands during trading, a decline of 84% from the average daily volume of 1,202,608 shares. The stock had previously closed at $37.17.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CLMT. TD Cowen reiterated a “hold” rating on shares of Calumet in a research report on Wednesday, June 3rd. The Goldman Sachs Group downgraded 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. HC Wainwright lifted their price target on shares of Calumet from $33.00 to $60.00 and gave the company a “buy” rating in a report on Monday, March 30th. Finally, Weiss Ratings upgraded shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $36.75.

Calumet Stock Performance

The business has a fifty day simple moving average of $34.05 and a 200-day simple moving average of $29.21. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of -17.96 and a beta of 0.72.

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

Insider Buying and Selling

In other Calumet news, Director Daniel J. Sajkowski sold 4,240 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $36.16, for a total transaction of $153,318.40. Following the sale, the director directly owned 77,718 shares of the company’s stock, valued at $2,810,282.88. The trade was a 5.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the insider directly owned 12,980,211 shares of the company’s stock, valued at $422,376,065.94. The trade was a 4.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.07% of the company’s stock.

Institutional Investors Weigh In On Calumet

Institutional investors have recently made changes to their positions in the stock. Covestor Ltd boosted its holdings in Calumet by 29.1% in the fourth quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 492 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Calumet by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 12,613 shares of the oil and gas company’s stock worth $251,000 after purchasing an additional 817 shares during the period. Aster Capital Management DIFC Ltd lifted its position in shares of Calumet by 294.7% in the 4th 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 during the period. Islay Capital Management LLC bought a new stake in shares of Calumet in the 4th quarter valued at $25,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Calumet during the fourth quarter worth $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.