Calumet Target of Unusually Large Options Trading (NASDAQ:CLMT)

Calumet, Inc. (NASDAQ:CLMT) saw some unusual options trading on Tuesday. Stock investors purchased 3,039 call options on the stock. This represents an increase of 22% compared to the typical daily volume of 2,495 call options.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CLMT shares. The Goldman Sachs Group raised their target price on Calumet from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Zacks Research upgraded shares of Calumet from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Wall Street Zen downgraded shares of Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. TD Cowen raised their target price on shares of Calumet from $15.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Finally, HC Wainwright restated a “buy” rating and issued a $33.00 price target on shares of Calumet in a research report on Monday, November 10th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.04.

Calumet Trading Up 0.0%

NASDAQ CLMT traded up $0.00 on Tuesday, reaching $19.98. The stock had a trading volume of 404,824 shares, compared to its average volume of 1,075,949. Calumet has a 1 year low of $7.68 and a 1 year high of $22.15. The business has a 50 day moving average price of $19.47 and a 200 day moving average price of $17.92. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -46.66 and a beta of 1.23.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.09. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm earned ($1.18) earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts anticipate that Calumet will post -3.02 earnings per share for the current fiscal year.

Institutional Trading of Calumet

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its stake in shares of Calumet by 33.5% in 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 buying an additional 116,777 shares during the last quarter. Adams Asset Advisors LLC lifted its position in Calumet by 0.9% during the 2nd quarter. Adams Asset Advisors LLC now owns 5,406,271 shares of the oil and gas company’s stock worth $85,176,000 after acquiring an additional 49,948 shares during the last quarter. Caldwell Sutter Capital Inc. lifted its position in Calumet by 29.9% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 19,483 shares of the oil and gas company’s stock worth $307,000 after acquiring an additional 4,483 shares during the last quarter. Wasserstein Debt Opportunities Management L.P. boosted its holdings in Calumet by 3.2% during 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. increased its stake in shares of Calumet by 12.1% in 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 purchasing an additional 2,903 shares during the period. Institutional investors and hedge funds 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.