Calumet (NASDAQ:CLMT) Trading 11.2% Higher – Should You Buy?

Calumet, Inc. (NASDAQ:CLMT) shares traded up 11.2% on Friday . The company traded as high as $28.70 and last traded at $28.8850. 666,511 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 1,334,811 shares. The stock had previously closed at $25.98.

Wall Street Analyst Weigh In

CLMT has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on Calumet from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, January 30th. Wall Street Zen downgraded Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. TD Cowen reissued a “hold” rating on shares of Calumet in a research report on Thursday, January 29th. Zacks Research upgraded Calumet from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, UBS Group reiterated a “neutral” rating and issued a $26.00 price target on shares of Calumet in a research note on Friday. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.83.

Calumet Price Performance

The company has a market cap of $2.48 billion, a PE ratio of -66.53 and a beta of 1.24. The stock has a 50 day simple moving average of $21.06 and a two-hundred day simple moving average of $18.88.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new position in shares of Calumet during the fourth quarter worth about $34,000. Amalgamated Bank acquired a new stake in Calumet during the 2nd quarter worth approximately $37,000. Covestor Ltd grew its stake in shares of Calumet by 29.1% in the 4th quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 492 shares during the last quarter. University of Texas Texas AM Investment Management Co. increased its holdings in shares of Calumet by 109.4% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 3,350 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 1,750 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Calumet during the third quarter worth approximately $56,000. 34.41% of the stock is currently owned by institutional investors and hedge funds.

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.