Geode Capital Management LLC Has $26.86 Million Stock Holdings in Calumet, Inc. $CLMT

Geode Capital Management LLC lifted its stake in shares of Calumet, Inc. (NASDAQ:CLMT) by 112.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,704,670 shares of the oil and gas company’s stock after acquiring an additional 901,933 shares during the quarter. Geode Capital Management LLC owned approximately 1.98% of Calumet worth $26,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CLMT. Adams Asset Advisors LLC increased its position in Calumet by 0.9% during the 2nd quarter. Adams Asset Advisors LLC now owns 5,406,271 shares of the oil and gas company’s stock valued at $85,176,000 after purchasing an additional 49,948 shares during the period. Goldman Sachs Group Inc. raised its holdings in Calumet by 33.5% during 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 purchasing an additional 116,777 shares during the last quarter. SP Asset Management LLC acquired a new position in shares of Calumet in the 2nd quarter worth approximately $205,000. ProShare Advisors LLC acquired a new position in shares of Calumet in the 2nd quarter worth approximately $223,000. Finally, Wasserstein Debt Opportunities Management L.P. boosted its stake in shares of Calumet by 3.2% in 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 last quarter. 34.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on CLMT. The Goldman Sachs Group upped their target price on Calumet from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research report on Monday. Wall Street Zen upgraded shares of Calumet from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of Calumet in a research note on Monday, November 10th. Finally, Zacks Research raised shares of Calumet from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Calumet currently has a consensus rating of “Hold” and an average price target of $20.04.

Calumet Price Performance

Shares of NASDAQ CLMT opened at $19.31 on Friday. The company has a 50-day moving average price of $18.91 and a 200-day moving average price of $16.75. The stock has a market capitalization of $1.67 billion, a P/E ratio of -3.70 and a beta of 1.09. Calumet, Inc. has a 1 year low of $7.68 and a 1 year high of $23.75.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share 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 the consensus estimate of $1.06 billion. Calumet’s revenue 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. As a group, equities research analysts anticipate that Calumet, Inc. will post -3.02 earnings per share for the current fiscal year.

Calumet Company Profile

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.