Hennessy Advisors Inc. Takes $10.20 Million Position in Calumet, Inc. $CLMT

Hennessy Advisors Inc. purchased a new position in Calumet, Inc. (NASDAQ:CLMT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 283,200 shares of the oil and gas company’s stock, valued at approximately $10,201,000.

Several other institutional investors have also made changes to their positions in CLMT. Islay Capital Management LLC purchased a new position in Calumet during the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd lifted its position in Calumet by 294.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock worth $33,000 after buying an additional 1,229 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Calumet in the 4th quarter worth approximately $34,000. Covestor Ltd boosted its stake in shares of Calumet by 29.1% during the 4th quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 492 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in shares of Calumet during the 3rd quarter valued at $59,000. 34.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Calumet

In related news, Director Daniel J. Sajkowski sold 4,240 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $36.16, for a total value of $153,318.40. Following the completion of the sale, the director directly owned 77,718 shares in the company, valued at approximately $2,810,282.88. This represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group boosted their price target on shares of Calumet from $26.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday. Citigroup reiterated a “buy” rating on shares of Calumet in a report on Monday, August 10th. The Goldman Sachs Group lifted their price objective on Calumet from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, August 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a research note on Friday, August 7th. Finally, TD Cowen raised their price target on Calumet from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $48.00.

Calumet Stock Up 4.3%

CLMT stock opened at $47.75 on Friday. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of -30.81 and a beta of 0.71. Calumet, Inc. has a 12 month low of $15.99 and a 12 month high of $51.50. The firm has a 50 day moving average of $41.91 and a two-hundred day moving average of $35.30.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, August 7th. The oil and gas company reported ($1.09) EPS for the quarter, missing the consensus estimate of $0.07 by ($1.16). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.12 billion. The firm’s revenue was up 40.8% compared to the same quarter last year. During the same quarter last year, the business posted ($1.70) EPS. On average, research analysts expect that Calumet, Inc. will post 0.46 EPS for the current fiscal year.

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.