Calumet (NASDAQ:CLMT) Price Target Raised to $34.00

Calumet (NASDAQ:CLMT) had its target price hoisted by The Goldman Sachs Group from $24.00 to $34.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

CLMT has been the topic of several other research reports. TD Cowen increased their price objective on Calumet from $19.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, March 5th. Wall Street Zen cut shares of Calumet from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. UBS Group restated a “neutral” rating and issued a $26.00 price target on shares of Calumet in a research note on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Calumet in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $25.67.

Calumet Stock Down 0.5%

Shares of NASDAQ:CLMT opened at $28.59 on Thursday. Calumet has a 12-month low of $7.68 and a 12-month high of $31.41. The business has a 50 day moving average of $24.90 and a 200-day moving average of $20.97. The stock has a market cap of $2.48 billion, a PE ratio of -73.31 and a beta of 1.18.

Calumet (NASDAQ:CLMT) last announced its earnings results on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.24. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. Calumet’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.47) EPS. Equities research analysts expect that Calumet will post -3.02 earnings per share for the current year.

Institutional Trading of Calumet

A number of institutional investors have recently modified their holdings of CLMT. Islay Capital Management LLC acquired a new stake in shares of Calumet during the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd raised its stake in Calumet by 294.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 1,229 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Calumet in the fourth quarter valued at about $34,000. Covestor Ltd lifted its position in Calumet by 29.1% during the fourth quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 492 shares during the period. Finally, CWM LLC lifted its position in Calumet by 149,900.0% during the fourth quarter. CWM LLC now owns 3,000 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 2,998 shares during the period. 34.41% of the stock is currently owned by institutional investors.

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.