Calumet, Inc. (NASDAQ:CLMT) Receives Average Rating of “Hold” from Analysts

Shares of Calumet, Inc. (NASDAQ:CLMT) have been assigned a consensus recommendation of “Hold” from the eight analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $20.0417.

A number of equities analysts recently issued reports on the company. Wall Street Zen cut Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. 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 price objective 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 report on Monday. Finally, The Goldman Sachs Group boosted their price target on shares of Calumet from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd.

Institutional Trading of Calumet

Large investors have recently added to or reduced their stakes in the company. O Keefe Stevens Advisory Inc. lifted its holdings in shares of Calumet by 2.2% in the third quarter. O Keefe Stevens Advisory Inc. now owns 27,416 shares of the oil and gas company’s stock valued at $500,000 after purchasing an additional 599 shares in the last quarter. Premier Path Wealth Partners LLC raised its position in 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 valued at $202,000 after buying an additional 1,320 shares during the period. University of Texas Texas AM Investment Management Co. raised its position in Calumet by 109.4% during 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 buying an additional 1,750 shares during the period. one8zero8 LLC lifted its stake in Calumet by 1.2% in the 3rd quarter. one8zero8 LLC now owns 189,695 shares of the oil and gas company’s stock worth $3,462,000 after acquiring an additional 2,195 shares in the last quarter. Finally, Amalgamated Bank purchased a new stake in Calumet in the 2nd quarter worth about $37,000. 34.41% of the stock is owned by institutional investors and hedge funds.

Calumet Price Performance

CLMT stock opened at $19.73 on Friday. The firm has a market cap of $1.71 billion, a PE ratio of -45.87 and a beta of 1.18. Calumet has a 12 month low of $7.68 and a 12 month high of $23.75. The firm has a 50 day simple moving average of $19.40 and a 200 day simple moving average of $17.53.

Calumet (NASDAQ:CLMT) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm posted ($1.18) EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts expect that Calumet will post -3.02 earnings per share for the current 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.