Calumet, Inc. (NASDAQ:CLMT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Calumet, Inc. (NASDAQ:CLMT) have been given an average recommendation of “Hold” by the eight ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $22.8333.

A number of brokerages recently weighed in on CLMT. Wall Street Zen downgraded shares of Calumet from a “buy” rating to a “hold” rating in a research note 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 reissued a “buy” rating and issued a $33.00 price objective on shares of Calumet in a research report on Monday, November 10th. TD Cowen restated a “hold” rating on shares of Calumet in a research report on Thursday, January 29th. Finally, UBS Group reiterated a “neutral” rating and issued a $26.00 target price on shares of Calumet in a report on Friday.

Calumet Stock Performance

CLMT stock opened at $28.61 on Friday. The company has a market capitalization of $2.48 billion, a P/E ratio of -66.53 and a beta of 1.24. The company has a fifty day moving average price of $21.25 and a 200-day moving average price of $18.96. Calumet has a 52-week low of $7.68 and a 52-week high of $29.20.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new position in shares of Calumet in the fourth quarter valued at approximately $34,000. Covestor Ltd lifted its stake in Calumet by 29.1% in the 4th 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. Amalgamated Bank bought a new position in Calumet in the 2nd quarter valued at $37,000. CWM LLC grew its position in shares of Calumet by 149,900.0% during the 4th quarter. CWM LLC now owns 3,000 shares of the oil and gas company’s stock valued at $60,000 after purchasing an additional 2,998 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Calumet in the third quarter worth $56,000. Institutional investors own 34.41% of the company’s stock.

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.