Premier Path Wealth Partners LLC Increases Stake in Calumet, Inc. $CLMT

Premier Path Wealth Partners LLC raised its position in Calumet, Inc. (NASDAQ:CLMT) by 11.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,853 shares of the oil and gas company’s stock after purchasing an additional 1,320 shares during the period. Premier Path Wealth Partners LLC’s holdings in Calumet were worth $202,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. lifted its holdings in Calumet by 109.4% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 3,350 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 1,750 shares in the last quarter. Caldwell Sutter Capital Inc. lifted its holdings in Calumet by 29.9% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 19,483 shares of the oil and gas company’s stock valued at $307,000 after purchasing an additional 4,483 shares in the last quarter. O Keefe Stevens Advisory Inc. lifted its holdings in Calumet by 12.1% in the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 26,817 shares of the oil and gas company’s stock valued at $423,000 after purchasing an additional 2,903 shares in the last quarter. ELCO Management Co. LLC lifted its holdings in Calumet by 31.9% in the 2nd quarter. ELCO Management Co. LLC now owns 43,060 shares of the oil and gas company’s stock valued at $678,000 after purchasing an additional 10,402 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Calumet by 33.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 465,269 shares of the oil and gas company’s stock valued at $5,900,000 after purchasing an additional 116,777 shares in the last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CLMT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Calumet in a research note on Wednesday, October 8th. UBS Group raised their target price on Calumet from $12.00 to $13.25 and gave the stock a “neutral” rating in a research note on Tuesday, August 12th. The Goldman Sachs Group raised their target price on Calumet from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Finally, Zacks Research downgraded Calumet from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 7th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Calumet has a consensus rating of “Hold” and a consensus target price of $19.71.

Calumet Price Performance

Shares of Calumet stock opened at $19.56 on Friday. The business has a 50-day moving average of $18.22 and a 200 day moving average of $15.59. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -3.75 and a beta of 0.98. Calumet, Inc. has a 12 month low of $7.68 and a 12 month high of $23.75.

Calumet (NASDAQ:CLMT) last posted its earnings results on Friday, August 8th. The oil and gas company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($1.26). The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $982.88 million. The firm’s revenue was down 9.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.48) EPS. Equities research analysts anticipate that Calumet, Inc. will post -3.02 earnings per share for the current year.

About Calumet

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.