Calumet, Inc. (NASDAQ:CLMT) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Calumet, Inc. (NASDAQ:CLMT) have been assigned an average recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $36.75.

A number of equities analysts have weighed in on CLMT shares. UBS Group reiterated a “neutral” rating and set a $26.00 target price on shares of Calumet in a research report on Friday, February 13th. The Goldman Sachs Group lowered shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a research report on Friday, April 24th. HC Wainwright lifted their target price on shares of Calumet from $33.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, March 30th. TD Cowen boosted their price objective on shares of Calumet from $19.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, March 5th. Finally, Weiss Ratings upgraded shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th.

Calumet Trading Down 0.1%

CLMT opened at $35.47 on Monday. The company’s fifty day moving average price is $32.72 and its two-hundred day moving average price is $26.18. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -16.42 and a beta of 0.72. Calumet has a 1-year low of $12.70 and a 1-year high of $36.94.

Calumet (NASDAQ:CLMT) last announced its earnings results on Friday, May 8th. The oil and gas company reported ($3.64) EPS for the quarter, missing the consensus estimate of ($0.33) by ($3.31). The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the company posted ($1.87) EPS. Calumet’s revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Calumet will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Calumet

In other Calumet news, major shareholder Group Heritage sold 626,998 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $32.54, for a total transaction of $20,402,514.92. Following the transaction, the insider directly owned 12,980,211 shares of the company’s stock, valued at approximately $422,376,065.94. The trade was a 4.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Sajkowski sold 3,310 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $34.46, for a total transaction of $114,062.60. Following the transaction, the director directly owned 81,958 shares in the company, valued at approximately $2,824,272.68. The trade was a 3.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.07% of the stock is owned by insiders.

Institutional Trading of Calumet

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in Calumet by 65.1% during the 1st quarter. Bank of America Corp DE now owns 1,153,744 shares of the oil and gas company’s stock valued at $41,419,000 after purchasing an additional 454,985 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Calumet by 596.3% during the 1st quarter. Janus Henderson Group PLC now owns 217,948 shares of the oil and gas company’s stock valued at $7,824,000 after acquiring an additional 186,648 shares during the period. Amundi lifted its stake in shares of Calumet by 24.6% in the 1st quarter. Amundi now owns 48,651 shares of the oil and gas company’s stock worth $1,747,000 after purchasing an additional 9,597 shares during the period. California State Teachers Retirement System lifted its stake in shares of Calumet by 26.0% in the 1st quarter. California State Teachers Retirement System now owns 83,579 shares of the oil and gas company’s stock worth $3,000,000 after purchasing an additional 17,254 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Calumet by 107.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 97,741 shares of the oil and gas company’s stock worth $3,509,000 after purchasing an additional 50,530 shares during the period. 34.41% of the stock is owned by institutional investors.

Calumet Company 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.