Rafferty Asset Management LLC Sells 19,144 Shares of Calumet, Inc. $CLMT

Rafferty Asset Management LLC cut its holdings in Calumet, Inc. (NASDAQ:CLMT) by 22.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 64,890 shares of the oil and gas company’s stock after selling 19,144 shares during the period. Rafferty Asset Management LLC’s holdings in Calumet were worth $1,184,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Amalgamated Bank bought a new stake in Calumet in the second quarter worth approximately $37,000. State of Alaska Department of Revenue acquired a new stake in shares of Calumet during the 3rd quarter worth approximately $56,000. Ameritas Investment Partners Inc. bought a new stake in shares of Calumet in the 2nd quarter valued at $111,000. Bessemer Group Inc. bought a new stake in shares of Calumet in the 3rd quarter valued at $150,000. Finally, ProShare Advisors LLC acquired a new position in shares of Calumet during the 2nd quarter valued at $223,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

Analyst Upgrades and Downgrades

CLMT has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a report on Monday, December 29th. TD Cowen increased their price objective on shares of Calumet from $19.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday. Wall Street Zen lowered Calumet from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price target on shares of Calumet in a research note on Monday, November 10th. Finally, UBS Group reiterated a “neutral” rating and issued a $26.00 price target on shares of Calumet in a report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $24.00.

Calumet Price Performance

CLMT opened at $30.40 on Friday. Calumet, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $31.41. The firm has a market capitalization of $2.64 billion, a PE ratio of -77.95 and a beta of 1.18. The company’s 50-day moving average is $23.98 and its 200 day moving average is $20.44.

Calumet (NASDAQ:CLMT) last released its quarterly earnings results on Friday, February 27th. The oil and gas company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.24. The company had revenue of ($3,098.50) million during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company posted ($0.47) earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, analysts expect that Calumet, Inc. will post -3.02 EPS for the current year.

Calumet 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.