Calumet (NASDAQ:CLMT) Sets New 12-Month High After Analyst Upgrade

Shares of Calumet, Inc. (NASDAQ:CLMT) hit a new 52-week high during mid-day trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $40.00 to $45.00. The Goldman Sachs Group currently has a neutral rating on the stock. Calumet traded as high as $49.38 and last traded at $48.8710, with a volume of 787 shares. The stock had previously closed at $48.35.

Other analysts also recently issued reports about the stock. TD Cowen increased their price target on shares of Calumet from $34.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, August 12th. Citigroup reiterated a “buy” rating on shares of Calumet in a research note on Monday, August 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Calumet in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $42.75.

Insider Activity at Calumet

In related news, Director Daniel J. Sajkowski sold 4,240 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $36.16, for a total value of $153,318.40. Following the completion of the transaction, the director directly owned 77,718 shares of the company’s stock, valued at $2,810,282.88. This trade represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.15% of the company’s stock.

Institutional Trading of Calumet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its position in Calumet by 11.3% in the second quarter. Fifth Third Bancorp now owns 3,407 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 346 shares in the last quarter. Covestor Ltd boosted its holdings in Calumet by 29.1% during the fourth quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 492 shares in the last quarter. Caldwell Sutter Capital Inc. boosted its holdings in Calumet by 2.7% during the second quarter. Caldwell Sutter Capital Inc. now owns 20,000 shares of the oil and gas company’s stock valued at $720,000 after purchasing an additional 517 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Calumet by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 12,613 shares of the oil and gas company’s stock valued at $251,000 after purchasing an additional 817 shares during the period. Finally, Aster Capital Management DIFC Ltd grew its stake in shares of Calumet by 294.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 1,229 shares during the period. Institutional investors own 34.41% of the company’s stock.

Calumet Trading Up 1.0%

The stock has a fifty day moving average price of $39.30 and a 200-day moving average price of $33.82. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of -31.45 and a beta of 0.71.

Calumet (NASDAQ:CLMT) last posted its earnings results on Friday, August 7th. The oil and gas company reported ($1.09) EPS for the quarter, missing the consensus estimate of $0.07 by ($1.16). The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.12 billion. Calumet’s revenue for the quarter was up 40.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.70) EPS. On average, equities analysts expect that Calumet, Inc. will post 0.46 EPS 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.