Calumet, Inc. $CLMT Stake Cut by Adams Asset Advisors LLC

Adams Asset Advisors LLC cut its holdings in shares of Calumet, Inc. (NASDAQ:CLMT) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,156,271 shares of the oil and gas company’s stock after selling 250,000 shares during the period. Calumet accounts for approximately 13.5% of Adams Asset Advisors LLC’s investment portfolio, making the stock its 2nd biggest holding. Adams Asset Advisors LLC owned about 0.06% of Calumet worth $102,455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of Calumet during the 3rd quarter valued at $56,000. Advisory Services Network LLC purchased a new position in Calumet during the 3rd quarter worth $59,000. Ameritas Investment Partners Inc. acquired a new position in Calumet during the 2nd quarter valued at about $111,000. Russell Investments Group Ltd. raised its stake in Calumet by 1,287.0% in the third quarter. Russell Investments Group Ltd. now owns 6,172 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 5,727 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new stake in Calumet in the third quarter valued at about $150,000. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Calumet Stock Performance

Calumet stock opened at $32.06 on Monday. The business’s 50-day simple moving average is $26.76 and its two-hundred day simple moving average is $21.87. The company has a market cap of $2.78 billion, a PE ratio of -82.20 and a beta of 1.18. Calumet, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $32.07.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.24. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company posted ($0.47) earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts predict that Calumet, Inc. will post -3.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a research note on Monday, December 29th. Wall Street Zen lowered shares of Calumet from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. UBS Group reiterated a “neutral” rating and issued a $26.00 target price on shares of Calumet in a research note on Friday, February 13th. The Goldman Sachs Group boosted their target price on shares of Calumet from $24.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Finally, TD Cowen upped their price target on shares of Calumet from $19.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, March 5th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.67.

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.