Calumet (NASDAQ:CLMT) Rating Increased to Buy at Wall Street Zen

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

CLMT has been the topic of several other research reports. HC Wainwright reiterated a “buy” rating and issued a $33.00 price target on shares of Calumet in a report on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a report on Monday. The Goldman Sachs Group lifted their price target on shares of Calumet from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Zacks Research upgraded shares of Calumet from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, TD Cowen raised their price objective on shares of Calumet from $15.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.04.

Calumet Trading Down 0.6%

NASDAQ:CLMT opened at $19.34 on Friday. Calumet has a 12 month low of $7.68 and a 12 month high of $23.75. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -44.98 and a beta of 1.18. The firm has a fifty day simple moving average of $18.99 and a two-hundred day simple moving average of $16.94.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings data 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 company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. Calumet’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.18) EPS. Equities analysts predict that Calumet will post -3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Calumet

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLMT. O Keefe Stevens Advisory Inc. lifted its position in shares of Calumet by 2.2% during the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 27,416 shares of the oil and gas company’s stock worth $500,000 after buying an additional 599 shares in the last quarter. Premier Path Wealth Partners LLC increased its position in shares of Calumet by 11.4% during the second quarter. Premier Path Wealth Partners LLC now owns 12,853 shares of the oil and gas company’s stock valued at $202,000 after acquiring an additional 1,320 shares during the last quarter. University of Texas Texas AM Investment Management Co. lifted its holdings in Calumet by 109.4% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 3,350 shares of the oil and gas company’s stock worth $53,000 after acquiring an additional 1,750 shares during the period. one8zero8 LLC boosted its position in Calumet by 1.2% in the third quarter. one8zero8 LLC now owns 189,695 shares of the oil and gas company’s stock worth $3,462,000 after purchasing an additional 2,195 shares during the last quarter. Finally, Amalgamated Bank purchased a new position in Calumet in the second quarter worth $37,000. Hedge funds and other institutional investors own 34.41% of the company’s stock.

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.