Brokerages Set Calumet, Inc. (NASDAQ:CLMT) Price Target at $18.71

Calumet, Inc. (NASDAQ:CLMT) has been given a consensus recommendation of “Hold” by the eight brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $18.7083.

CLMT has been the topic of a number of analyst reports. UBS Group lifted their price objective on shares of Calumet from $12.00 to $13.25 and gave the stock a “neutral” rating in a report on Tuesday, August 12th. Zacks Research lowered shares of Calumet from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Calumet in a research report on Wednesday, October 8th.

Calumet Stock Performance

Shares of NASDAQ CLMT opened at $18.19 on Friday. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -3.48 and a beta of 0.98. Calumet has a fifty-two week low of $7.68 and a fifty-two week high of $23.75. The firm’s 50-day simple moving average is $17.11 and its 200 day simple moving average is $14.91.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, August 8th. The oil and gas company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($0.44) by ($1.26). The firm 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% on a year-over-year basis. During the same period in the previous year, the business posted ($0.48) earnings per share. On average, sell-side analysts predict that Calumet will post -3.02 EPS for the current year.

Institutional Trading of Calumet

Institutional investors and hedge funds have recently modified their holdings of the business. O Keefe Stevens Advisory Inc. lifted its holdings in Calumet by 2.2% during the third quarter. O Keefe Stevens Advisory Inc. now owns 27,416 shares of the oil and gas company’s stock worth $500,000 after acquiring an additional 599 shares during the period. Corient Private Wealth LLC bought a new stake in shares of Calumet during the 2nd quarter worth $577,000. Squarepoint Ops LLC bought a new stake in shares of Calumet during the 2nd quarter worth $500,000. Engineers Gate Manager LP purchased a new position in shares of Calumet in the 2nd quarter worth about $230,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Calumet by 18,512.3% in 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 buying an additional 182,902 shares during the last quarter. 34.41% of the stock is owned by hedge funds and other institutional investors.

Calumet Company Profile

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.