Calumet (NASDAQ:CLMT) Downgraded to Hold Rating by Wall Street Zen

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

Several other brokerages also recently weighed in on CLMT. HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of Calumet in a research note on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research report on Monday, December 8th. The Goldman Sachs Group upped their price objective on shares of Calumet from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Zacks Research upgraded shares of Calumet from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, TD Cowen boosted their price target on shares of Calumet from $15.00 to $18.00 and gave the stock a “hold” rating in a research note 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.04.

Calumet Trading Up 1.1%

CLMT stock opened at $20.46 on Friday. The company has a market capitalization of $1.77 billion, a P/E ratio of -47.58 and a beta of 1.18. The business has a 50 day simple moving average of $19.14 and a 200-day simple moving average of $17.17. Calumet has a twelve month low of $7.68 and a twelve month high of $23.75.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.09. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted ($1.18) earnings per share. Research analysts predict that Calumet will post -3.02 EPS for the current fiscal year.

Institutional Trading of Calumet

A number of institutional investors have recently bought and sold shares of CLMT. O Keefe Stevens Advisory Inc. increased its holdings in Calumet by 2.2% during the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 27,416 shares of the oil and gas company’s stock valued at $500,000 after acquiring an additional 599 shares in the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of Calumet by 11.4% during the second 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 in the last quarter. University of Texas Texas AM Investment Management Co. increased its holdings in Calumet by 109.4% during the 2nd 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. one8zero8 LLC increased its holdings in Calumet by 1.2% in the third quarter. one8zero8 LLC now owns 189,695 shares of the oil and gas company’s stock valued at $3,462,000 after buying an additional 2,195 shares during the last quarter. Finally, Amalgamated Bank bought a new position in Calumet during the second quarter worth $37,000. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

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.