Calumet (NASDAQ:CLMT) Reaches New 52-Week High – Should You Buy?

Calumet, Inc. (NASDAQ:CLMT)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $31.41 and last traded at $31.07, with a volume of 281073 shares traded. The stock had previously closed at $29.99.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CLMT. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a research note on Monday, December 29th. TD Cowen lifted their price target on Calumet from $19.00 to $25.00 and gave the company a “hold” rating in a report on Thursday, March 5th. The Goldman Sachs Group boosted their price target on Calumet from $24.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. UBS Group restated a “neutral” rating and issued a $26.00 price objective on shares of Calumet in a report on Friday, February 13th. Finally, Wall Street Zen lowered shares of Calumet from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.67.

Calumet Price Performance

The firm has a fifty day simple moving average of $26.76 and a 200 day simple moving average of $21.81. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -82.20 and a beta of 1.18.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.24. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. Calumet’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.47) earnings per share. Analysts expect that Calumet, Inc. will post -3.02 earnings per share for the current year.

Institutional Investors Weigh In On Calumet

A number of hedge funds have recently bought and sold shares of the company. Islay Capital Management LLC acquired a new stake in shares of Calumet in the fourth quarter valued at about $25,000. Aster Capital Management DIFC Ltd increased its stake in shares of 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 worth $33,000 after purchasing an additional 1,229 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Calumet during the 4th quarter worth about $34,000. Covestor Ltd lifted its position in shares of Calumet by 29.1% during the 4th quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 492 shares during the last quarter. Finally, CWM LLC boosted its stake in Calumet by 149,900.0% during the 4th quarter. CWM LLC now owns 3,000 shares of the oil and gas company’s stock valued at $60,000 after purchasing an additional 2,998 shares during the period. 34.41% of the stock is currently 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.