Calumet (NASDAQ:CLMT) Price Target Raised to $45.00

Calumet (NASDAQ:CLMT) had its target price upped by The Goldman Sachs Group from $40.00 to $45.00 in a report issued on Tuesday morning, Marketbeat.com reports. The Goldman Sachs Group currently has a neutral rating on the oil and gas company’s stock.

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

Calumet Stock Performance

Shares of Calumet stock opened at $48.29 on Tuesday. Calumet has a 52-week low of $13.71 and a 52-week high of $51.50. The company has a fifty day moving average of $40.19 and a 200-day moving average of $34.40. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of -31.15 and a beta of 0.71.

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

Insider Buying and Selling

In other Calumet news, Director Daniel J. Sajkowski sold 4,240 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $36.16, for a total transaction of $153,318.40. Following the completion of the transaction, the director owned 77,718 shares of the company’s stock, valued at $2,810,282.88. This represents a 5.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Calumet

Hedge funds have recently made changes to their positions in the business. Islay Capital Management LLC purchased a new stake in Calumet in the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd boosted its holdings in Calumet by 294.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 1,229 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Calumet during the 2nd quarter valued at $61,000. KBC Group NV purchased a new position in Calumet during the 1st quarter valued at $69,000. Finally, Covestor Ltd increased its position in Calumet by 29.1% during the 4th 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 during the period. 34.41% of the stock is owned by hedge funds and other 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.