Calumet (NASDAQ:CLMT) Raised to “Buy” at Wall Street Zen

Calumet (NASDAQ:CLMT) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other brokerages also recently commented on CLMT. Zacks Research raised Calumet from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research report on Monday, December 1st. UBS Group boosted their price objective on Calumet from $12.00 to $13.25 and gave the company a “neutral” rating in a report on Tuesday, August 12th. TD Cowen raised their price target on shares of Calumet from $15.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, November 11th. Finally, The Goldman Sachs Group upped their target price on shares of Calumet from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Calumet currently has a consensus rating of “Hold” and a consensus price target of $20.04.

Calumet Trading Down 0.6%

Shares of Calumet stock opened at $19.34 on Friday. The firm’s 50 day moving average is $18.99 and its 200 day moving average is $16.99. The firm has a market capitalization of $1.68 billion, a PE ratio of -44.98 and a beta of 1.18. Calumet has a 1 year low of $7.68 and a 1 year high of $23.75.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CLMT. BlueCrest Capital Management Ltd boosted its position in Calumet by 25.0% during the 3rd quarter. BlueCrest Capital Management Ltd now owns 60,000 shares of the oil and gas company’s stock valued at $1,095,000 after buying an additional 12,000 shares during the period. CIBC Bancorp USA Inc. purchased a new position in shares of Calumet in the third quarter valued at about $353,000. Advisory Services Network LLC bought a new position in shares of Calumet during the third quarter valued at about $59,000. Voleon Capital Management LP purchased a new stake in shares of Calumet during the third quarter worth about $385,000. Finally, Mariner LLC grew its stake in shares of Calumet by 959.6% in the third quarter. Mariner LLC now owns 369,408 shares of the oil and gas company’s stock worth $6,742,000 after purchasing an additional 334,544 shares during the last quarter. 34.41% of the stock is owned by 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.