Calumet (NASDAQ:CLMT) Upgraded to “Hold” at Wall Street Zen

Calumet (NASDAQ:CLMT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

Several other analysts have also issued reports on the company. TD Cowen upped their target price on Calumet from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Calumet in a research note on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of Calumet in a research report on Monday, November 10th. UBS Group boosted their price target on shares of Calumet from $12.00 to $13.25 and gave the stock a “neutral” rating in a research note on Tuesday, August 12th. Finally, Zacks Research upgraded shares of Calumet from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.04.

Calumet Price Performance

CLMT stock opened at $18.67 on Friday. Calumet has a one year low of $7.68 and a one year high of $23.75. The stock has a market cap of $1.62 billion, a PE ratio of -3.58 and a beta of 1.09. The firm has a 50 day simple moving average of $18.75 and a two-hundred day simple moving average of $16.27.

Calumet (NASDAQ:CLMT) last released its earnings results on Friday, November 7th. The oil and gas company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.09. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company earned ($1.18) EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, research analysts expect that Calumet will post -3.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CLMT. Goldman Sachs Group Inc. lifted its holdings in Calumet by 33.5% in the 1st 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 during the period. Adams Asset Advisors LLC lifted its stake in Calumet by 0.9% in the second quarter. Adams Asset Advisors LLC now owns 5,406,271 shares of the oil and gas company’s stock worth $85,176,000 after acquiring an additional 49,948 shares during the period. Caldwell Sutter Capital Inc. boosted its holdings in Calumet by 29.9% in the second quarter. Caldwell Sutter Capital Inc. now owns 19,483 shares of the oil and gas company’s stock valued at $307,000 after acquiring an additional 4,483 shares in the last quarter. Wasserstein Debt Opportunities Management L.P. increased its position in Calumet by 3.2% during the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 5,817,012 shares of the oil and gas company’s stock valued at $91,647,000 after purchasing an additional 180,197 shares during the period. Finally, O Keefe Stevens Advisory Inc. increased its position in Calumet by 12.1% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 26,817 shares of the oil and gas company’s stock valued at $423,000 after purchasing an additional 2,903 shares during the period. Hedge funds and other institutional investors own 34.41% of the company’s stock.

About Calumet

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.