Adams Asset Advisors LLC Has $102.46 Million Stock Position in Calumet, Inc. $CLMT

Adams Asset Advisors LLC trimmed its stake in Calumet, Inc. (NASDAQ:CLMT) by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,156,271 shares of the oil and gas company’s stock after selling 250,000 shares during the period. Calumet comprises 13.5% of Adams Asset Advisors LLC’s holdings, making the stock its 2nd biggest holding. Adams Asset Advisors LLC owned about 5.94% of Calumet worth $102,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in CLMT. O Keefe Stevens Advisory Inc. raised its stake in shares of Calumet by 2.2% during the third quarter. O Keefe Stevens Advisory Inc. now owns 27,416 shares of the oil and gas company’s stock valued at $500,000 after acquiring an additional 599 shares in the last quarter. one8zero8 LLC increased its holdings in Calumet by 1.2% during the 3rd 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 period. Swiss National Bank raised its position in Calumet by 2.1% during the 3rd quarter. Swiss National Bank now owns 134,400 shares of the oil and gas company’s stock valued at $2,453,000 after purchasing an additional 2,700 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Calumet during the 3rd quarter valued at $56,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Calumet in the 3rd quarter worth $59,000. 34.41% of the stock is currently owned by institutional investors.

Calumet Price Performance

Shares of NASDAQ CLMT opened at $32.06 on Monday. The stock has a market capitalization of $2.78 billion, a P/E ratio of -82.20 and a beta of 1.18. Calumet, Inc. has a 1-year low of $7.68 and a 1-year high of $32.07. The business has a fifty day moving average price of $26.76 and a 200 day moving average price of $21.87.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.24. The company 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% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.47) EPS. As a group, equities research analysts anticipate that Calumet, Inc. will post -3.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CLMT has been the subject of several recent research reports. The Goldman Sachs Group lifted their price objective on Calumet from $24.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Wall Street Zen cut shares of Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. TD Cowen raised their target price on shares of Calumet from $19.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday, March 5th. UBS Group restated a “neutral” rating and issued a $26.00 price target on shares of Calumet in a report 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 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, the stock presently has an average rating of “Hold” and an average target price of $25.67.

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.