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

Calumet, Inc. (NASDAQ:CLMT) has received a consensus rating of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $30.50.

A number of brokerages have recently issued reports on CLMT. TD Cowen raised their price target on shares of Calumet from $19.00 to $25.00 and gave the company a “hold” rating in a report on Thursday, March 5th. UBS Group reaffirmed a “neutral” rating and set a $26.00 price target on shares of Calumet in a report on Friday, February 13th. HC Wainwright raised their price target on shares of Calumet from $33.00 to $60.00 and gave the company a “buy” rating in a report on Monday, March 30th. Finally, The Goldman Sachs Group downgraded shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a report on Friday, April 24th.

Insider Activity

In other news, Director Daniel J. Sajkowski sold 3,310 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $34.46, for a total transaction of $114,062.60. Following the sale, the director owned 81,958 shares of the company’s stock, valued at $2,824,272.68. This trade represents a 3.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.07% of the stock is currently owned by insiders.

Institutional Trading of Calumet

A number of institutional investors have recently made changes to their positions in the stock. Great Lakes Advisors LLC bought a new position in shares of Calumet in the 3rd quarter worth approximately $3,088,000. Quantbot Technologies LP lifted its stake in shares of Calumet by 364.8% in the 3rd quarter. Quantbot Technologies LP now owns 70,973 shares of the oil and gas company’s stock worth $1,295,000 after purchasing an additional 55,705 shares during the period. Lombard Odier Asset Management USA Corp bought a new position in shares of Calumet in the 3rd quarter worth approximately $2,327,000. Citigroup Inc. lifted its stake in shares of Calumet by 111.7% in the 3rd quarter. Citigroup Inc. now owns 180,779 shares of the oil and gas company’s stock worth $3,299,000 after purchasing an additional 95,383 shares during the period. Finally, DAVENPORT & Co LLC bought a new position in shares of Calumet in the 4th quarter worth approximately $334,000. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Calumet Stock Performance

Shares of CLMT stock opened at $34.50 on Thursday. Calumet has a one year low of $11.02 and a one year high of $36.94. The company’s 50-day moving average is $31.32 and its 200 day moving average is $24.60. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -88.46 and a beta of 0.72.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.24. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.04 billion. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.47) EPS. As a group, research analysts predict that Calumet will post -0.18 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.