Corient Private Wealth LLC Takes $577,000 Position in Calumet, Inc. $CLMT

Corient Private Wealth LLC bought a new position in shares of Calumet, Inc. (NASDAQ:CLMT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 36,625 shares of the oil and gas company’s stock, valued at approximately $577,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Amalgamated Bank purchased a new stake in Calumet during the second quarter worth about $37,000. University of Texas Texas AM Investment Management Co. boosted its stake in shares of Calumet by 109.4% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 3,350 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 1,750 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Calumet in the second quarter valued at approximately $111,000. Premier Path Wealth Partners LLC grew its holdings in shares of Calumet by 11.4% in 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 purchasing an additional 1,320 shares in the last quarter. Finally, SP Asset Management LLC purchased a new stake in Calumet during the 2nd quarter worth approximately $205,000. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Calumet Price Performance

NASDAQ:CLMT opened at $19.69 on Monday. Calumet, Inc. has a 12 month low of $7.68 and a 12 month high of $23.75. The firm has a market capitalization of $1.71 billion, a PE ratio of -45.79 and a beta of 1.18. The business’s fifty day moving average price is $19.43 and its 200 day moving average price is $17.62.

Calumet (NASDAQ:CLMT) last released its quarterly earnings data on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.09. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the company posted ($1.18) earnings per share. The company’s revenue was down 2.0% compared to the same quarter last year. As a group, equities analysts anticipate that Calumet, Inc. 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.