Calumet, Inc. (NASDAQ:CLMT) Receives $20.04 Consensus Target Price from Analysts

Calumet, Inc. (NASDAQ:CLMT) has received an average rating of “Hold” from the eight analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $20.0417.

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Calumet in a research note on Monday, December 22nd. Wall Street Zen downgraded shares of Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Zacks Research raised 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 target on Calumet from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $33.00 price objective on shares of Calumet in a report on Monday, November 10th.

Institutional Investors Weigh In On Calumet

Several institutional investors have recently bought and sold shares of CLMT. Adams Asset Advisors LLC lifted its position in shares of Calumet by 0.9% in 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 purchasing an additional 49,948 shares during the period. Goldman Sachs Group Inc. raised its stake in 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 in the last quarter. Two Seas Capital LP raised its stake in Calumet by 56.9% in the second quarter. Two Seas Capital LP now owns 4,497,609 shares of the oil and gas company’s stock worth $70,860,000 after buying an additional 1,631,098 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Calumet in the second quarter worth about $518,000. Finally, SP Asset Management LLC bought a new stake in Calumet during the 2nd quarter valued at approximately $205,000. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

Calumet Price Performance

Shares of NASDAQ:CLMT opened at $19.69 on Friday. Calumet has a 1 year low of $7.68 and a 1 year high of $23.75. The business’s 50-day moving average is $19.43 and its 200-day moving average is $17.62. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -45.79 and a beta of 1.18.

Calumet (NASDAQ:CLMT) last posted 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 business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.18) EPS. Analysts anticipate that Calumet will post -3.02 EPS for the current year.

Calumet Company Profile

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.