Calumet, Inc. (NASDAQ:CLMT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Calumet, Inc. (NASDAQ:CLMT) have been given an average rating of “Hold” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $30.1667.

CLMT has been the topic of a number of analyst reports. Wall Street Zen cut shares of Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research report on Monday, December 29th. The Goldman Sachs Group boosted their price objective on Calumet from $24.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. UBS Group reissued a “neutral” rating and set a $26.00 price objective on shares of Calumet in a report on Friday, February 13th. Finally, TD Cowen raised their target price on Calumet from $19.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, March 5th.

Insider Buying and Selling

In other news, Director Daniel J. Sajkowski sold 3,310 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $34.46, for a total transaction of $114,062.60. Following the completion of the transaction, the director owned 81,958 shares of the company’s stock, valued at approximately $2,824,272.68. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.07% of the stock is currently owned by insiders.

Institutional Trading of Calumet

Hedge funds have recently bought and sold shares of the company. Tulsa Wealth Advisors INC bought a new position in Calumet during the fourth quarter valued at approximately $212,000. Invesco Ltd. lifted its holdings in shares of Calumet by 13.6% in the 4th quarter. Invesco Ltd. now owns 123,607 shares of the oil and gas company’s stock worth $2,456,000 after acquiring an additional 14,769 shares during the last quarter. Numerai GP LLC bought a new stake in shares of Calumet in the 4th quarter worth approximately $620,000. Millennium Management LLC boosted its stake in shares of Calumet by 119.9% in the 4th quarter. Millennium Management LLC now owns 13,902 shares of the oil and gas company’s stock valued at $276,000 after purchasing an additional 83,844 shares in the last quarter. Finally, Trexquant Investment LP boosted its stake in shares of Calumet by 45.5% in the 4th quarter. Trexquant Investment LP now owns 265,637 shares of the oil and gas company’s stock valued at $5,278,000 after purchasing an additional 83,093 shares in the last quarter. Institutional investors own 34.41% of the company’s stock.

Calumet Price Performance

Shares of NASDAQ:CLMT opened at $35.06 on Friday. The company has a market capitalization of $3.04 billion, a PE ratio of -89.90 and a beta of 0.86. The business has a fifty day moving average price of $28.20 and a two-hundred day moving average price of $22.44. Calumet has a 1 year low of $7.68 and a 1 year high of $36.94.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings results on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.67) by $0.24. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business earned ($0.47) EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that Calumet will post -3.02 earnings per share 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.