Key Points
- Director Daniel Sajkowski sold 4,240 shares of Calumet stock on July 1 at an average price of $36.16, for proceeds of about $153,318. After the sale, he still held 77,718 shares.
- Calumet recently reported weak earnings, posting a quarterly EPS loss of $3.64 versus expectations for a loss of $0.33, though revenue of $1.03 billion slightly beat estimates and rose 3.6% year over year.
- Analysts remain cautious overall, with the stock carrying an average “Hold” rating and a consensus price target of $36.75, even as one firm raised its target to $60 and others maintained neutral or hold views.
Calumet, Inc. (NASDAQ:CLMT - Get Free Report) Director Daniel Sajkowski sold 4,240 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $36.16, for a total value of $153,318.40. Following the completion of the sale, the director directly owned 77,718 shares in the company, valued at approximately $2,810,282.88. This represents a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Calumet Price Performance
CLMT opened at $36.42 on Friday. The stock has a 50-day moving average price of $33.76 and a 200-day moving average price of $28.85. The firm has a market cap of $3.17 billion, a PE ratio of -16.86 and a beta of 0.72. Calumet, Inc. has a 1 year low of $12.94 and a 1 year high of $38.75.
Calumet (NASDAQ:CLMT - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The oil and gas company reported ($3.64) EPS for the quarter, missing the consensus estimate of ($0.33) by ($3.31). The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1 billion. The business's revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned ($1.87) earnings per share. As a group, sell-side analysts anticipate that Calumet, Inc. will post -0.28 EPS for the current year.
Hedge Funds Weigh In On Calumet
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc grew its stake in shares of Calumet by 36.6% in the second quarter. Legal & General Group Plc now owns 72,143 shares of the oil and gas company's stock worth $1,137,000 after acquiring an additional 19,322 shares during the period. New York State Common Retirement Fund bought a new position in Calumet during the second quarter valued at approximately $343,000. Quantbot Technologies LP purchased a new stake in Calumet in the second quarter worth approximately $241,000. Invesco Ltd. boosted its holdings in Calumet by 514.8% in the second quarter. Invesco Ltd. now owns 94,642 shares of the oil and gas company's stock worth $1,491,000 after purchasing an additional 79,247 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Calumet by 199.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,551 shares of the oil and gas company's stock worth $544,000 after purchasing an additional 23,031 shares during the period. Institutional investors own 34.41% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on CLMT shares. HC Wainwright increased 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. The Goldman Sachs Group lowered shares of Calumet from a "buy" rating to a "neutral" rating and set a $36.00 price objective for the company. in a report on Friday, April 24th. Weiss Ratings upgraded Calumet from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, May 11th. Finally, TD Cowen reissued a "hold" rating on shares of Calumet in a report on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $36.75.
Check Out Our Latest Research Report on Calumet
Calumet Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
