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

Calumet, Inc. (NASDAQ:CLMT) reached a new 52-week high on Monday . The company traded as high as $25.70 and last traded at $25.64, with a volume of 56487 shares traded. The stock had previously closed at $25.19.

Analysts Set New Price Targets

Several brokerages recently issued reports on CLMT. TD Cowen reissued a “hold” rating on shares of Calumet in a research note on Thursday, January 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Zacks Research upgraded shares of Calumet from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $33.00 price target on shares of Calumet in a report on Monday, November 10th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.71.

Calumet Stock Performance

The business’s fifty day moving average price is $20.57 and its two-hundred day moving average price is $18.66. The stock has a market capitalization of $2.24 billion, a P/E ratio of -60.07 and a beta of 1.24.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, November 7th. The oil and gas company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.09. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. The firm’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted ($1.18) EPS. As a group, analysts forecast that Calumet, Inc. will post -3.02 earnings per share for the current year.

Hedge Funds Weigh In On Calumet

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new position in shares of Calumet during the 4th quarter valued at approximately $34,000. Covestor Ltd lifted its position in Calumet by 29.1% in the fourth quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock worth $43,000 after buying an additional 492 shares during the last quarter. Amalgamated Bank purchased a new position in Calumet during the second quarter worth $37,000. CWM LLC boosted its stake in Calumet by 149,900.0% during the fourth quarter. CWM LLC now owns 3,000 shares of the oil and gas company’s stock worth $60,000 after buying an additional 2,998 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in Calumet during the third quarter valued at $56,000. Hedge funds and other institutional investors own 34.41% of the company’s stock.

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.