Lombard Odier Asset Management USA Corp Acquires Shares of 127,500 Calumet, Inc. $CLMT

Lombard Odier Asset Management USA Corp bought a new position in shares of Calumet, Inc. (NASDAQ:CLMT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 127,500 shares of the oil and gas company’s stock, valued at approximately $2,327,000. Lombard Odier Asset Management USA Corp owned about 0.15% of Calumet at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Two Seas Capital LP boosted its stake in 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 purchasing an additional 1,631,098 shares during the period. Geode Capital Management LLC raised its holdings in shares of Calumet by 112.4% in the second 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 buying an additional 901,933 shares during the last quarter. AYAL Capital Advisors Ltd acquired a new stake in shares of Calumet during the second quarter worth about $5,278,000. Marshall Wace LLP boosted its stake in shares of Calumet by 35.8% during the third quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock worth $16,268,000 after buying an additional 234,766 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in shares of Calumet by 18,512.3% during 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 buying an additional 182,902 shares during the last quarter. 34.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on CLMT. TD Cowen boosted their price target on Calumet from $19.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday, March 5th. The Goldman Sachs Group increased their price objective on Calumet from $24.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Wall Street Zen downgraded Calumet from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. UBS Group restated a “neutral” rating and set 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 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, the company currently has a consensus rating of “Hold” and a consensus target price of $25.67.

Calumet Stock Down 1.1%

NASDAQ CLMT opened at $28.28 on Tuesday. The stock has a market capitalization of $2.45 billion, a P/E ratio of -72.51 and a beta of 1.18. Calumet, Inc. has a 52-week low of $7.68 and a 52-week high of $31.41. The firm has a 50-day moving average price of $25.07 and a 200 day moving average price of $21.08.

Calumet (NASDAQ:CLMT) last announced 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 business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the firm posted ($0.47) EPS. Calumet’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts expect that Calumet, Inc. will post -3.02 earnings per share for the current fiscal 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.