HC Wainwright Reaffirms “Buy” Rating for Calumet (NASDAQ:CLMT)

Calumet (NASDAQ:CLMT)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $33.00 price objective on the oil and gas company’s stock. HC Wainwright’s target price indicates a potential upside of 71.96% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Calumet in a research report on Wednesday, October 8th. The Goldman Sachs Group increased their price objective 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. Zacks Research upgraded Calumet from a “strong sell” rating to a “hold” rating in a report on Thursday. Finally, UBS Group upped their target price on Calumet from $12.00 to $13.25 and gave the stock a “neutral” rating in a report on Tuesday, August 12th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Calumet presently has a consensus rating of “Hold” and a consensus price target of $19.71.

Calumet Stock Performance

Shares of Calumet stock opened at $19.19 on Monday. The firm has a market cap of $1.66 billion, a PE ratio of -3.68 and a beta of 1.09. The business’s 50 day simple moving average is $18.55 and its 200 day simple moving average is $16.02. Calumet has a 52-week low of $7.68 and a 52-week high of $23.75.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings results on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.09. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business earned ($1.18) earnings per share. Calumet’s revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Calumet will post -3.02 EPS for the current year.

Institutional Investors Weigh In On Calumet

A number of institutional investors and hedge funds have recently modified their holdings of CLMT. Amalgamated Bank acquired a new stake in Calumet in the 2nd quarter valued at about $37,000. University of Texas Texas AM Investment Management Co. raised its stake 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 buying an additional 1,750 shares during the period. State of Alaska Department of Revenue bought a new stake in Calumet in the third quarter valued at approximately $56,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Calumet in the second quarter valued at approximately $111,000. Finally, Bessemer Group Inc. bought a new position in shares of Calumet during the 3rd quarter worth approximately $150,000. 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.