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

Shares of Calumet, Inc. (NASDAQ:CLMT) have received an average recommendation of “Hold” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $36.75.

A number of brokerages have weighed in on CLMT. UBS Group reaffirmed a “neutral” rating and issued a $26.00 price target on shares of Calumet in a research note on Friday, February 13th. The Goldman Sachs Group downgraded shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research report on Friday, April 24th. HC Wainwright raised their price objective on shares of Calumet from $33.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 30th. TD Cowen boosted their price objective on shares of Calumet from $19.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday, March 5th. Finally, Weiss Ratings raised shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th.

Calumet Price Performance

NASDAQ CLMT opened at $34.22 on Monday. Calumet has a one year low of $12.70 and a one year high of $36.94. The firm has a market cap of $2.98 billion, a P/E ratio of -15.84 and a beta of 0.72. The stock’s 50-day moving average is $32.12 and its 200-day moving average is $25.69.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, May 8th. The oil and gas company reported ($3.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($3.31). The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the company earned ($1.87) EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts anticipate that Calumet will post -0.31 EPS for the current year.

Insider Transactions at Calumet

In other news, major shareholder Group Heritage sold 626,998 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $32.54, for a total value of $20,402,514.92. Following the sale, the insider directly owned 12,980,211 shares in the company, valued at $422,376,065.94. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel J. Sajkowski sold 3,310 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $34.46, for a total value of $114,062.60. Following the transaction, the director directly owned 81,958 shares of the company’s stock, valued at $2,824,272.68. This represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.07% of the company’s stock.

Hedge Funds Weigh In On Calumet

Large investors have recently bought and sold shares of the company. Islay Capital Management LLC bought a new position in shares of Calumet during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd raised its holdings in shares of Calumet by 294.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 1,229 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Calumet in the fourth quarter worth $34,000. Covestor Ltd lifted its position in shares of Calumet by 29.1% in the fourth quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 492 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in Calumet during the third quarter worth $56,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

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.