Calumet (NASDAQ:CLMT) Hits New 1-Year High – Time to Buy?

Calumet, Inc. (NASDAQ:CLMT)’s share price hit a new 52-week high on Tuesday . The company traded as high as $22.47 and last traded at $22.13, with a volume of 1870173 shares changing hands. The stock had previously closed at $21.47.

Wall Street Analysts Forecast Growth

CLMT has been the topic of several research reports. The Goldman Sachs Group upped their price objective on Calumet from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Wall Street Zen lowered Calumet from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research report on Monday, December 29th. Zacks Research raised Calumet from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Finally, HC Wainwright restated a “buy” rating and set a $33.00 target price on shares of Calumet in a research report on Monday, November 10th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Calumet presently has an average rating of “Hold” and a consensus price target of $20.04.

Calumet Trading Up 3.1%

The business has a 50 day moving average of $19.77 and a 200-day moving average of $18.23. The firm has a market capitalization of $1.92 billion, a P/E ratio of -51.46 and a beta of 1.23.

Calumet (NASDAQ:CLMT) last released its quarterly earnings results on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.09. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the company earned ($1.18) EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts anticipate that Calumet, Inc. will post -3.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Calumet

Several institutional investors have recently bought and sold shares of CLMT. Wasserstein Debt Opportunities Management L.P. grew its stake in shares of Calumet by 3.2% during the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 5,817,012 shares of the oil and gas company’s stock worth $91,647,000 after acquiring an additional 180,197 shares in the last quarter. O Keefe Stevens Advisory Inc. boosted its holdings in Calumet by 12.1% during the second quarter. O Keefe Stevens Advisory Inc. now owns 26,817 shares of the oil and gas company’s stock worth $423,000 after purchasing an additional 2,903 shares during the last quarter. University of Texas Texas AM Investment Management Co. grew its position in Calumet by 109.4% in the second 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 purchasing an additional 1,750 shares in the last quarter. ELCO Management Co. LLC increased its stake in Calumet by 31.9% in the 2nd quarter. ELCO Management Co. LLC now owns 43,060 shares of the oil and gas company’s stock valued at $678,000 after buying an additional 10,402 shares during the last quarter. Finally, Premier Path Wealth Partners LLC lifted its position in Calumet by 11.4% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 12,853 shares of the oil and gas company’s stock worth $202,000 after buying an additional 1,320 shares in the last quarter. Institutional investors 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.