Squarepoint Ops LLC Takes Position in Calumet, Inc. $CLMT

Squarepoint Ops LLC bought a new position in Calumet, Inc. (NASDAQ:CLMT) in the 2nd quarter, Holdings Channel reports. The firm bought 31,736 shares of the oil and gas company’s stock, valued at approximately $500,000.

Other hedge funds also recently added to or reduced their stakes in the company. Corient Private Wealth LLC bought a new stake in Calumet in the second quarter worth about $577,000. Engineers Gate Manager LP purchased a new stake in shares of Calumet in the second quarter worth approximately $230,000. BNP Paribas Financial Markets lifted its stake in shares of Calumet by 18,512.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 183,890 shares of the oil and gas company’s stock worth $2,897,000 after acquiring an additional 182,902 shares during the last quarter. Bank of America Corp DE boosted its holdings in Calumet by 3.4% during the 2nd quarter. Bank of America Corp DE now owns 609,307 shares of the oil and gas company’s stock valued at $9,600,000 after acquiring an additional 20,110 shares during the period. Finally, AYAL Capital Advisors Ltd bought a new position in Calumet in the 2nd quarter valued at $5,278,000. 34.41% of the stock is currently owned by institutional investors.

Calumet Stock Performance

Shares of Calumet stock opened at $19.73 on Thursday. The company has a market capitalization of $1.71 billion, a PE ratio of -45.87 and a beta of 1.18. The company has a 50-day simple moving average of $19.39 and a two-hundred day simple moving average of $17.51. Calumet, Inc. has a one year low of $7.68 and a one year high of $23.75.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.09. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the firm earned ($1.18) EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities analysts predict that Calumet, Inc. will post -3.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of Calumet in a research report on Monday, November 10th. TD Cowen raised their price target on shares of Calumet from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Wall Street Zen cut shares of Calumet from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. The Goldman Sachs Group upped their target price on shares of Calumet from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Calumet in a research note on Monday. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Calumet presently has an average rating of “Hold” and a consensus target price of $20.04.

Calumet 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.