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

Shares of Calumet, Inc. (NASDAQ:CLMT) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $41.76 and traded as high as $58.69. Calumet shares last traded at $58.24, with a volume of 1,147,211 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. TD Cowen lifted their price target on shares of Calumet from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, August 12th. UBS Group upped their price objective on Calumet from $26.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 25th. Citigroup restated a “buy” rating on shares of Calumet in a research note on Monday, August 10th. Zacks Research raised Calumet from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Calumet in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Calumet presently has a consensus rating of “Hold” and an average target price of $51.75.

Calumet Price Performance

The company has a 50-day moving average price of $53.19 and a 200 day moving average price of $41.87. The firm has a market capitalization of $5.08 billion, a PE ratio of -37.26, a P/E/G ratio of 1.56 and a beta of 0.78.

Calumet (NASDAQ:CLMT) last released its quarterly earnings data on Friday, August 7th. The oil and gas company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($1.16). The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Calumet’s revenue was up 40.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.70) EPS. As a group, research analysts anticipate that Calumet, Inc. will post 0.76 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Two Seas Capital LP bought a new position in Calumet during the second quarter valued at approximately $238,442,000. BlackRock Inc. increased its stake in Calumet by 5.1% in the 2nd quarter. BlackRock Inc. now owns 5,234,106 shares of the oil and gas company’s stock worth $188,532,000 after acquiring an additional 253,578 shares during the last quarter. State Street Corp increased its stake in Calumet by 12.7% in the 2nd quarter. State Street Corp now owns 3,471,065 shares of the oil and gas company’s stock worth $125,028,000 after acquiring an additional 390,906 shares during the last quarter. Bank of America Corp DE increased its stake in 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 worth $41,419,000 after acquiring an additional 454,985 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Calumet during the 1st quarter worth approximately $14,066,000. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Calumet Company Profile

Calumet, Inc (NASDAQ: CLMT) is a specialty products and renewable fuels company headquartered in Indianapolis, Indiana. The company develops, produces and markets a range of products derived from crude oil and renewable feedstocks for industrial, commercial and consumer applications.

Its specialty products portfolio includes lubricants, solvents, waxes, asphalt and other hydrocarbon-based products, as well as products used in manufacturing, transportation, infrastructure and consumer goods.