Brokerages Set Calumet, Inc. (NASDAQ:CLMT) Target Price at $22.83

Shares of Calumet, Inc. (NASDAQ:CLMT) have been given an average recommendation of “Hold” by the eight research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $22.8333.

A number of research analysts have recently commented on CLMT shares. Wall Street Zen lowered shares of Calumet from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Calumet in a research note on Monday, December 29th. UBS Group reissued a “neutral” rating and set a $26.00 price objective on shares of Calumet in a research note on Friday, February 13th. HC Wainwright restated a “buy” rating and issued a $33.00 target price on shares of Calumet in a research note on Monday, November 10th. Finally, Zacks Research raised Calumet from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th.

Institutional Investors Weigh In On Calumet

Several hedge funds have recently bought and sold shares of the stock. Islay Capital Management LLC purchased a new position in Calumet in the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of Calumet by 294.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 1,229 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Calumet during the 4th quarter worth $34,000. Amalgamated Bank purchased a new position in Calumet in the second quarter worth $37,000. Finally, Covestor Ltd increased its stake in Calumet by 29.1% in the fourth quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 492 shares during the last quarter. 34.41% of the stock is currently owned by institutional investors.

Calumet Trading Down 4.3%

CLMT stock opened at $28.14 on Friday. The firm has a 50 day moving average of $22.14 and a 200-day moving average of $19.41. Calumet has a 12 month low of $7.68 and a 12 month high of $29.92. The firm has a market capitalization of $2.44 billion, a P/E ratio of -65.44 and a beta of 1.24.

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.