Corient Private Wealth LLC Takes Position in Calumet, Inc. $CLMT

Corient Private Wealth LLC bought a new stake in Calumet, Inc. (NASDAQ:CLMT) during the second quarter, Holdings Channel.com reports. The fund bought 36,625 shares of the oil and gas company’s stock, valued at approximately $577,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CLMT. Goldman Sachs Group Inc. grew its holdings in shares of Calumet by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 465,269 shares of the oil and gas company’s stock worth $5,900,000 after purchasing an additional 116,777 shares during the last quarter. Adams Asset Advisors LLC lifted its stake in Calumet by 0.9% in the second quarter. Adams Asset Advisors LLC now owns 5,406,271 shares of the oil and gas company’s stock valued at $85,176,000 after buying an additional 49,948 shares during the last quarter. Caldwell Sutter Capital Inc. lifted its stake in Calumet by 29.9% in the second quarter. Caldwell Sutter Capital Inc. now owns 19,483 shares of the oil and gas company’s stock valued at $307,000 after buying an additional 4,483 shares during the last quarter. Wasserstein Debt Opportunities Management L.P. boosted its holdings in shares of Calumet by 3.2% in the second quarter. Wasserstein Debt Opportunities Management L.P. now owns 5,817,012 shares of the oil and gas company’s stock valued at $91,647,000 after acquiring an additional 180,197 shares during the period. Finally, O Keefe Stevens Advisory Inc. grew its position in shares of Calumet by 12.1% during the second quarter. O Keefe Stevens Advisory Inc. now owns 26,817 shares of the oil and gas company’s stock worth $423,000 after acquiring an additional 2,903 shares during the last quarter. 34.41% of the stock is owned by hedge funds and other institutional investors.

Calumet Trading Down 0.1%

Shares of CLMT opened at $19.69 on Monday. The stock’s 50 day moving average is $19.43 and its two-hundred day moving average is $17.62. Calumet, Inc. has a twelve month low of $7.68 and a twelve month high of $23.75. The firm has a market capitalization of $1.71 billion, a PE ratio of -45.79 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, topping analysts’ consensus estimates 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. During the same period last year, the company posted ($1.18) earnings per share. The business’s quarterly revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts predict that Calumet, Inc. will post -3.02 EPS for the current year.

Analyst Ratings Changes

CLMT has been the subject of several research reports. Zacks Research upgraded shares of Calumet from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. The Goldman Sachs Group upped their target price on shares of Calumet from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. TD Cowen raised their price target on Calumet from $15.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Calumet in a research report on Monday, December 22nd. Finally, HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of Calumet in a report on Monday, November 10th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.04.

Calumet Company Profile

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.