Analysts Set Calumet, Inc. (NASDAQ:CLMT) Target Price at $20.04

Shares of Calumet, Inc. (NASDAQ:CLMT) have earned an average rating of “Hold” from the eight research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $20.0417.

A number of equities research analysts recently issued reports on CLMT shares. HC Wainwright restated a “buy” rating and issued a $33.00 price objective on shares of Calumet in a research note on Monday, November 10th. Zacks Research upgraded shares of Calumet from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Wall Street Zen lowered shares of Calumet from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. TD Cowen upped their price target on shares of Calumet from $15.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Calumet in a report on Monday, December 22nd.

Hedge Funds Weigh In On Calumet

Several hedge funds have recently made changes to their positions in CLMT. Amalgamated Bank bought a new stake in shares of Calumet during the 2nd quarter valued at $37,000. State of Alaska Department of Revenue bought a new position in Calumet in the 3rd quarter worth about $56,000. Advisory Services Network LLC purchased a new position in Calumet during the 3rd quarter valued at about $59,000. University of Texas Texas AM Investment Management Co. grew its holdings in Calumet by 109.4% during 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 buying an additional 1,750 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Calumet by 1,287.0% during the third quarter. Russell Investments Group Ltd. now owns 6,172 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 5,727 shares during the period. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

Calumet Price Performance

NASDAQ:CLMT opened at $19.69 on Friday. The company has a market capitalization of $1.71 billion, a P/E ratio of -45.79 and a beta of 1.18. The business has a fifty day simple moving average of $19.43 and a two-hundred day simple moving average of $17.62. Calumet has a 1 year low of $7.68 and a 1 year high of $23.75.

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

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.