Calumet, Inc. (NASDAQ:CLMT) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Calumet, Inc. (NASDAQ:CLMT) have been assigned a consensus recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $36.75.

Several brokerages recently issued reports on CLMT. HC Wainwright lifted their price objective on shares of Calumet from $33.00 to $60.00 and gave the company a “buy” rating in a report on Monday, March 30th. UBS Group reissued a “neutral” rating and set a $26.00 price objective on shares of Calumet in a report on Friday, February 13th. Weiss Ratings raised shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. The Goldman Sachs Group lowered shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a report on Friday, April 24th. Finally, TD Cowen lifted their price objective on shares of Calumet from $19.00 to $25.00 and gave the company a “hold” rating in a report on Thursday, March 5th.

Insider Activity at Calumet

In other Calumet news, major shareholder Group Heritage sold 626,998 shares of Calumet stock in a transaction on Friday, May 15th. The shares were sold at an average price of $32.54, for a total value of $20,402,514.92. Following the transaction, the insider directly owned 12,980,211 shares of the company’s stock, valued at approximately $422,376,065.94. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Sajkowski sold 3,310 shares of Calumet stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $34.46, for a total transaction of $114,062.60. Following the completion of the transaction, the director directly owned 81,958 shares in the company, valued at $2,824,272.68. This represents a 3.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 4.07% of the company’s stock.

Hedge Funds Weigh In On Calumet

Several institutional investors and hedge funds have recently bought and sold shares of CLMT. Islay Capital Management LLC purchased a new position in Calumet in the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd grew its holdings in Calumet by 294.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 1,229 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Calumet in the fourth quarter worth $34,000. Covestor Ltd grew its holdings in Calumet by 29.1% in the fourth quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 492 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Calumet in the third quarter worth $56,000. 34.41% of the stock is owned by hedge funds and other institutional investors.

Calumet Stock Performance

Calumet stock opened at $35.47 on Monday. The company has a 50 day moving average price of $32.72 and a 200-day moving average price of $26.23. Calumet has a fifty-two week low of $12.70 and a fifty-two week high of $36.94. The company has a market capitalization of $3.09 billion, a PE ratio of -16.42 and a beta of 0.73.

Calumet (NASDAQ:CLMT) last posted its quarterly earnings results on Friday, May 8th. The oil and gas company reported ($3.64) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($3.31). The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1 billion. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned ($1.87) earnings per share. On average, analysts forecast that Calumet will post -0.31 earnings per share for the current year.

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.