Great Lakes Advisors LLC Purchases New Shares in Calumet, Inc. $CLMT

Great Lakes Advisors LLC purchased a new stake in shares of Calumet, Inc. (NASDAQ:CLMT) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 169,195 shares of the oil and gas company’s stock, valued at approximately $3,088,000.

A number of other institutional investors also recently bought and sold shares of CLMT. Two Seas Capital LP grew its holdings in shares of Calumet by 56.9% during the 2nd quarter. Two Seas Capital LP now owns 4,497,609 shares of the oil and gas company’s stock worth $70,860,000 after acquiring an additional 1,631,098 shares during the period. Geode Capital Management LLC lifted its stake in shares of Calumet by 112.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,704,670 shares of the oil and gas company’s stock valued at $26,860,000 after purchasing an additional 901,933 shares during the period. AYAL Capital Advisors Ltd bought a new stake in shares of Calumet during the second quarter valued at approximately $5,278,000. BNP Paribas Financial Markets grew its stake in Calumet by 18,512.3% in the second quarter. BNP Paribas Financial Markets now owns 183,890 shares of the oil and gas company’s stock worth $2,897,000 after purchasing an additional 182,902 shares during the period. Finally, Diametric Capital LP purchased a new stake in Calumet in the second quarter worth $2,312,000. 34.41% of the stock is owned by institutional investors.

Calumet Price Performance

NASDAQ CLMT opened at $22.41 on Friday. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -52.12 and a beta of 1.23. Calumet, Inc. has a 1-year low of $7.68 and a 1-year high of $23.00. The business’s fifty day moving average price is $20.05 and its 200-day moving average price is $18.38.

Calumet (NASDAQ:CLMT) last released its quarterly earnings results on Friday, November 7th. The oil and gas company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.09. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the company earned ($1.18) EPS. Calumet’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts anticipate that Calumet, Inc. will post -3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

CLMT has been the topic of a number of research reports. Wall Street Zen cut shares of Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. TD Cowen reaffirmed a “hold” rating on shares of Calumet in a research note on Thursday. The Goldman Sachs Group boosted their price target on Calumet from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday. Zacks Research upgraded Calumet from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, HC Wainwright reiterated a “buy” rating and set a $33.00 price objective on shares of Calumet in a research note on Monday, November 10th. Four research 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.71.

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.