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

Calumet, Inc. (NASDAQ:CLMT) has received a consensus rating of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.0417.

A number of brokerages recently issued reports on CLMT. Zacks Research upgraded Calumet from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. The Goldman Sachs Group raised their price objective on shares of Calumet from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. TD Cowen lifted their target price on shares of Calumet from $15.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. Wall Street Zen lowered Calumet from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Calumet in a report on Monday, December 29th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank bought a new stake in shares of Calumet during the second quarter valued at approximately $37,000. University of Texas Texas AM Investment Management Co. boosted its position in shares of Calumet by 109.4% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 3,350 shares of the oil and gas company’s stock worth $53,000 after acquiring an additional 1,750 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Calumet during the third quarter valued at $56,000. Advisory Services Network LLC purchased a new position in Calumet during the third quarter valued at $59,000. Finally, CWM LLC increased its holdings in Calumet by 149,900.0% in the 4th quarter. CWM LLC now owns 3,000 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 2,998 shares during the last quarter. 34.41% of the stock is currently owned by institutional investors.

Calumet Price Performance

NASDAQ:CLMT opened at $21.47 on Tuesday. Calumet has a one year low of $7.68 and a one year high of $22.10. The business has a fifty day moving average price of $19.77 and a 200-day moving average price of $18.23. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -49.93 and a beta of 1.23.

Calumet (NASDAQ:CLMT) last released 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 company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm posted ($1.18) EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Calumet will post -3.02 earnings per share for the current fiscal year.

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.