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

Calumet, Inc. (NASDAQ:CLMT) has earned an average rating of “Hold” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $51.75.

Several equities research analysts have recently issued reports on CLMT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a report on Friday, August 7th. UBS Group increased their price objective on shares of Calumet from $26.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 25th. HC Wainwright raised their price objective on shares of Calumet from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. TD Cowen boosted their target price on Calumet from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, August 12th. Finally, The Goldman Sachs Group upped their target price on Calumet from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, August 18th.

Calumet Stock Performance

NASDAQ:CLMT opened at $53.91 on Wednesday. The stock’s fifty day moving average is $44.46 and its 200 day moving average is $36.60. Calumet has a fifty-two week low of $17.08 and a fifty-two week high of $54.69. The firm has a market capitalization of $4.74 billion, a PE ratio of -34.78 and a beta of 0.72.

Calumet (NASDAQ:CLMT) last posted its quarterly earnings data on Friday, August 7th. The oil and gas company reported ($1.09) EPS for the quarter, missing the consensus estimate of $0.07 by ($1.16). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the firm earned ($1.70) earnings per share. The firm’s revenue for the quarter was up 40.8% compared to the same quarter last year. Equities analysts forecast that Calumet will post 0.48 EPS for the current year.

Insiders Place Their Bets

In other Calumet news, Director Daniel Sajkowski sold 4,240 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $36.16, for a total value of $153,318.40. Following the completion of the sale, the director directly owned 77,718 shares of the company’s stock, valued at $2,810,282.88. The trade was a 5.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Calumet

Institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp boosted its holdings in shares of Calumet by 11.3% in the second quarter. Fifth Third Bancorp now owns 3,407 shares of the oil and gas company’s stock valued at $123,000 after purchasing an additional 346 shares during the period. Covestor Ltd raised its position in Calumet by 29.1% during 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 in the last quarter. Caldwell Sutter Capital Inc. raised its position in Calumet by 2.7% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 20,000 shares of the oil and gas company’s stock valued at $720,000 after purchasing an additional 517 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Calumet by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 12,613 shares of the oil and gas company’s stock worth $251,000 after buying an additional 817 shares during the period. Finally, Aster Capital Management DIFC Ltd grew its position in shares of Calumet by 294.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock worth $33,000 after buying an additional 1,229 shares in the last quarter. 34.41% of the stock is owned by hedge funds and other institutional investors.

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.