Adams Asset Advisors LLC Sells 100,000 Shares of Calumet, Inc. $CLMT

Adams Asset Advisors LLC lessened its holdings in shares of Calumet, Inc. (NASDAQ:CLMT) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,906,206 shares of the oil and gas company’s stock after selling 100,000 shares during the period. Calumet makes up about 9.2% of Adams Asset Advisors LLC’s portfolio, making the stock its 3rd biggest holding. Adams Asset Advisors LLC’s holdings in Calumet were worth $99,847,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Two Seas Capital LP purchased a new position in Calumet during the 2nd quarter worth $238,442,000. BlackRock Inc. raised its stake in Calumet by 5.1% in the second quarter. BlackRock Inc. now owns 5,234,106 shares of the oil and gas company’s stock valued at $188,532,000 after buying an additional 253,578 shares during the last quarter. State Street Corp boosted its holdings in Calumet by 12.7% in the second quarter. State Street Corp now owns 3,471,065 shares of the oil and gas company’s stock worth $125,028,000 after acquiring an additional 390,906 shares in the last quarter. Bank of America Corp DE boosted its holdings in Calumet by 65.1% in the first quarter. Bank of America Corp DE now owns 1,153,744 shares of the oil and gas company’s stock worth $41,419,000 after acquiring an additional 454,985 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Calumet during the first quarter worth about $14,066,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group upped their price objective on shares of Calumet from $26.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, August 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a research note on Friday, August 7th. TD Cowen raised their price target on shares of Calumet from $34.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, August 12th. Citigroup reissued a “buy” rating on shares of Calumet in a report on Monday, August 10th. Finally, Zacks Research raised Calumet from a “hold” rating to a “strong-buy” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.75.

Calumet Trading Up 2.6%

NASDAQ CLMT traded up $1.46 on Thursday, hitting $57.75. 1,390,740 shares of the company’s stock traded hands, compared to its average volume of 1,252,393. The firm’s 50-day moving average price is $50.99 and its two-hundred day moving average price is $40.58. The firm has a market capitalization of $5.08 billion, a PE ratio of -37.26 and a beta of 0.78. Calumet, Inc. has a 1-year low of $17.42 and a 1-year high of $59.87.

Calumet (NASDAQ:CLMT) last released its quarterly earnings data on Friday, August 7th. The oil and gas company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($1.16). The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the firm earned ($1.70) EPS. Calumet’s revenue for the quarter was up 40.8% on a year-over-year basis. On average, research analysts anticipate that Calumet, Inc. will post 0.76 earnings per share for the current fiscal year.

Calumet Company Profile

Calumet, Inc (NASDAQ: CLMT) is a specialty products and renewable fuels company headquartered in Indianapolis, Indiana. The company develops, produces and markets a range of products derived from crude oil and renewable feedstocks for industrial, commercial and consumer applications.

Its specialty products portfolio includes lubricants, solvents, waxes, asphalt and other hydrocarbon-based products, as well as products used in manufacturing, transportation, infrastructure and consumer goods.