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

Calumet, Inc. (NASDAQ:CLMT) has received a consensus rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $36.75.

Several equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. TD Cowen reiterated a “hold” rating on shares of Calumet in a research report on Wednesday, June 3rd. HC Wainwright increased their price target on Calumet from $33.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, March 30th. Finally, The Goldman Sachs Group downgraded Calumet from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research note on Friday, April 24th.

Calumet Trading Up 0.3%

Calumet stock opened at $39.58 on Tuesday. Calumet has a 1 year low of $12.94 and a 1 year high of $41.37. The company has a market cap of $3.45 billion, a PE ratio of -18.32 and a beta of 0.72. The company’s 50-day moving average is $34.66 and its two-hundred day moving average is $29.76.

Calumet (NASDAQ:CLMT) last issued its earnings results 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 firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the business earned ($1.87) earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. Research analysts forecast that Calumet will post -0.28 EPS for the current year.

Insider Transactions at Calumet

In other Calumet news, major shareholder Group Heritage sold 626,998 shares of the 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 transaction, the insider owned 12,980,211 shares of the company’s stock, valued at approximately $422,376,065.94. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Sajkowski sold 4,240 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $36.16, for a total value of $153,318.40. Following the transaction, the director owned 77,718 shares in the company, valued at approximately $2,810,282.88. This trade represents a 5.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.07% of the company’s stock.

Institutional Trading of Calumet

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in Calumet by 65.1% during the 1st quarter. Bank of America Corp DE now owns 1,153,744 shares of the oil and gas company’s stock worth $41,419,000 after acquiring an additional 454,985 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Calumet during the first quarter valued at approximately $14,066,000. Mariner LLC increased its stake in Calumet by 959.6% in the third quarter. Mariner LLC now owns 369,408 shares of the oil and gas company’s stock valued at $6,742,000 after purchasing an additional 334,544 shares in the last quarter. Marshall Wace LLP increased its stake in Calumet by 35.8% in the third quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock valued at $16,268,000 after purchasing an additional 234,766 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Calumet by 128.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 348,115 shares of the oil and gas company’s stock worth $6,917,000 after purchasing an additional 195,627 shares during the period. 34.41% of the stock is currently owned by institutional investors and hedge funds.

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.