Calumet (NASDAQ:CLMT) Upgraded by Wall Street Zen to Buy Rating

Calumet (NASDAQ:CLMT) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently issued reports on CLMT. HC Wainwright restated a “buy” rating and issued a $33.00 price objective on shares of Calumet in a research note on Monday, November 10th. UBS Group boosted their price target on shares of Calumet from $12.00 to $13.25 and gave the company a “neutral” rating in a research report on Tuesday, August 12th. The Goldman Sachs Group raised their price objective on shares of Calumet from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research note on Monday. Finally, TD Cowen boosted their target price on shares of Calumet from $15.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, November 11th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.04.

Calumet Trading Down 0.6%

Shares of NASDAQ CLMT opened at $19.34 on Friday. The stock has a fifty day simple moving average of $18.99 and a two-hundred day simple moving average of $16.94. Calumet has a 1-year low of $7.68 and a 1-year high of $23.75. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -44.98 and a beta of 1.18.

Calumet (NASDAQ:CLMT) last issued its earnings results on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.09. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm earned ($1.18) earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts forecast that Calumet will post -3.02 EPS for the current year.

Institutional Trading of Calumet

A number of large investors have recently modified their holdings of the business. Amalgamated Bank bought a new stake in shares of Calumet during the 2nd quarter valued at about $37,000. University of Texas Texas AM Investment Management Co. increased its position in shares of Calumet by 109.4% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 3,350 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 1,750 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Calumet in the third quarter valued at approximately $56,000. Advisory Services Network LLC bought a new stake in Calumet during the third quarter valued at approximately $59,000. Finally, Ameritas Investment Partners Inc. purchased a new position in Calumet in the 2nd quarter worth approximately $111,000. Institutional investors own 34.41% of the company’s stock.

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.