Calumet, Inc. (NASDAQ:CLMT) Given Consensus Rating of “Hold” by Analysts

Calumet, Inc. (NASDAQ:CLMT) has been assigned an average recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $41.50.

Several analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a research note on Friday, August 7th. The Goldman Sachs Group boosted their price target on Calumet from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Citigroup reissued a “buy” rating on shares of Calumet in a report on Monday. Finally, TD Cowen raised their price objective on Calumet from $34.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday.

Calumet Trading Down 2.2%

CLMT opened at $47.72 on Friday. The company has a fifty day simple moving average of $39.04 and a 200 day simple moving average of $33.55. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of -30.79 and a beta of 0.71. Calumet has a twelve month low of $12.94 and a twelve month high of $49.17.

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

Insider Activity

In other news, Director Daniel J. Sajkowski sold 4,240 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $36.16, for a total transaction of $153,318.40. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.15% of the stock is currently owned by insiders.

Institutional Trading of Calumet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Islay Capital Management LLC bought a new position in Calumet during the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd grew its holdings in Calumet by 294.7% during 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 acquiring an additional 1,229 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Calumet in the 4th quarter worth about $34,000. Covestor Ltd increased its position in shares of Calumet by 29.1% in the 4th quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 492 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Calumet in the 3rd quarter valued at about $59,000. Institutional investors own 34.41% of the company’s stock.

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.