Calumet, Inc. (NASDAQ:CLMT) Given Average Rating of “Hold” by Brokerages

Calumet, Inc. (NASDAQ:CLMT) has been assigned a consensus rating of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $36.75.

Several brokerages recently commented on CLMT. Weiss Ratings upgraded shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. The Goldman Sachs Group downgraded shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research note on Friday, April 24th. HC Wainwright raised their price objective on Calumet from $33.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 30th. Finally, TD Cowen reiterated a “hold” rating on shares of Calumet in a research report on Wednesday, June 3rd.

Calumet Trading Up 4.3%

Shares of CLMT stock opened at $42.83 on Tuesday. The company has a market cap of $3.73 billion, a P/E ratio of -19.83 and a beta of 0.72. The firm has a fifty day moving average price of $35.19 and a 200 day moving average price of $30.28. Calumet has a 12 month low of $12.94 and a 12 month high of $42.95.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, May 8th. The oil and gas company reported ($3.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($3.31). The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1 billion. Calumet’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business earned ($1.87) earnings per share. On average, equities analysts forecast that Calumet will post -0.13 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Group Heritage sold 626,998 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $32.54, for a total value of $20,402,514.92. Following the completion of the sale, the insider directly owned 12,980,211 shares of the company’s stock, valued at approximately $422,376,065.94. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel J. Sajkowski sold 4,240 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $36.16, for a total transaction of $153,318.40. Following the transaction, the director owned 77,718 shares in the company, valued at approximately $2,810,282.88. This trade represents a 5.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 4.07% of the company’s stock.

Institutional Trading of Calumet

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE increased its position in Calumet by 65.1% in the 1st quarter. Bank of America Corp DE now owns 1,153,744 shares of the oil and gas company’s stock valued at $41,419,000 after acquiring an additional 454,985 shares during the period. Renaissance Technologies LLC acquired a new stake in Calumet during the 1st quarter worth approximately $14,066,000. Mariner LLC lifted its position in Calumet by 959.6% during the 3rd quarter. Mariner LLC now owns 369,408 shares of the oil and gas company’s stock worth $6,742,000 after acquiring an additional 334,544 shares during the period. Marshall Wace LLP grew its stake in shares of Calumet by 35.8% in the 3rd quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock valued at $16,268,000 after purchasing an additional 234,766 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Calumet by 128.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 348,115 shares of the oil and gas company’s stock valued at $6,917,000 after purchasing an additional 195,627 shares during the last quarter. Institutional investors and hedge funds own 34.41% of the company’s stock.

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.