Calumet (NASDAQ:CLMT) Sets New 12-Month High – Here’s What Happened

Shares of Calumet, Inc. (NASDAQ:CLMT) hit a new 52-week high during trading on Wednesday . The stock traded as high as $54.75 and last traded at $54.2750, with a volume of 38753 shares. The stock had previously closed at $53.91.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CLMT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research note on Friday, August 7th. UBS Group increased their price objective on shares of Calumet from $26.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, August 25th. The Goldman Sachs Group raised their price objective on shares of Calumet from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, August 18th. TD Cowen lifted their target price on shares of Calumet from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, August 12th. Finally, HC Wainwright upped their target price on shares of Calumet from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $51.75.

Calumet Trading Up 1.1%

The company has a 50 day moving average of $44.46 and a 200 day moving average of $36.60. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of -35.19 and a beta of 0.72.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings results 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 business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the business earned ($1.70) EPS. Calumet’s revenue for the quarter was up 40.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Calumet, Inc. will post 0.48 EPS for the current fiscal year.

Insider Activity at Calumet

In other news, Director Daniel Sajkowski sold 4,240 shares of the business’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 sale, the director owned 77,718 shares in the company, valued at approximately $2,810,282.88. The trade was a 5.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.15% of the company’s stock.

Institutional Investors Weigh In On Calumet

Hedge funds have recently made changes to their positions in the company. Islay Capital Management LLC bought a new position in Calumet during the 4th quarter valued at about $25,000. Nykredit A S acquired a new position in Calumet during the 2nd quarter worth about $57,000. 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 during the last quarter. Global Retirement Partners LLC bought a new stake in Calumet during the 2nd quarter worth about $61,000. Finally, KBC Group NV acquired a new stake in Calumet in the 1st quarter valued at about $69,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

Calumet Company 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.