Calumet, Inc. (NASDAQ:CLMT) Given Average Recommendation of “Hold” by Brokerages

Calumet, Inc. (NASDAQ:CLMT) has been assigned an average recommendation of “Hold” from the eight analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $20.0417.

Several research firms have commented on CLMT. Wall Street Zen lowered Calumet from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. The Goldman Sachs Group boosted their price target on 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 Calumet from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. HC Wainwright reaffirmed a “buy” rating and set a $33.00 target price on shares of Calumet in a research note on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Calumet in a report on Monday.

Institutional Trading of Calumet

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

Calumet Stock Performance

CLMT stock opened at $19.73 on Friday. Calumet has a one year low of $7.68 and a one year high of $23.75. The firm’s fifty day moving average is $19.40 and its 200 day moving average is $17.53. The firm has a market cap of $1.71 billion, a PE ratio of -45.87 and a beta of 1.18.

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

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.