Calumet (NASDAQ:CLMT) Hits New 12-Month High – Still a Buy?

Calumet, Inc. (NASDAQ:CLMT)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $51.57 and last traded at $51.52, with a volume of 2014355 shares. The stock had previously closed at $49.73.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. TD Cowen boosted their price target on Calumet from $34.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, August 12th. The Goldman Sachs Group raised their price objective on shares of Calumet from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Calumet in a report on Friday, August 7th. Citigroup reiterated a “buy” rating on shares of Calumet in a research note on Monday, August 10th. Finally, UBS Group increased their price target on shares of Calumet from $26.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, August 25th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Calumet currently has a consensus rating of “Hold” and a consensus target price of $48.00.

Calumet Stock Performance

The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of -33.24 and a beta of 0.71. The company has a 50 day moving average price of $42.24 and a two-hundred day moving average price of $35.54.

Calumet (NASDAQ:CLMT) last released its quarterly earnings results on Friday, August 7th. The oil and gas company reported ($1.09) earnings per share (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 analysts’ expectations of $1.12 billion. The business’s revenue for the quarter was up 40.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.70) earnings per share. On average, equities analysts expect that Calumet, Inc. will post 0.46 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Daniel J. Sajkowski sold 4,240 shares of Calumet stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $36.16, for a total value of $153,318.40. Following the sale, the director owned 77,718 shares in the company, valued at $2,810,282.88. This trade represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Islay Capital Management LLC acquired a new stake in Calumet in the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd increased its stake in 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 buying an additional 1,229 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Calumet during the fourth quarter valued at approximately $34,000. Covestor Ltd raised its holdings in shares of Calumet by 29.1% during 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. Finally, Nykredit A S purchased a new position in shares of Calumet in the second quarter valued at approximately $57,000. 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.