Rafferty Asset Management LLC Sells 19,144 Shares of Calumet, Inc. $CLMT

Rafferty Asset Management LLC decreased its position in shares of Calumet, Inc. (NASDAQ:CLMT) by 22.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,890 shares of the oil and gas company’s stock after selling 19,144 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.07% of Calumet worth $1,184,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Amalgamated Bank bought a new position in Calumet in the second quarter valued at about $37,000. State of Alaska Department of Revenue acquired a new stake in shares of Calumet during the third quarter valued at about $56,000. Ameritas Investment Partners Inc. bought a new stake in shares of Calumet during the second quarter worth about $111,000. Bessemer Group Inc. acquired a new position in shares of Calumet in the third quarter valued at approximately $150,000. Finally, ProShare Advisors LLC acquired a new position in shares of Calumet in the second quarter valued at approximately $223,000. Institutional investors own 34.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. TD Cowen raised their price objective on shares of Calumet from $19.00 to $25.00 and gave the company a “hold” rating in a report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a research report on Monday, December 29th. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price target on shares of Calumet in a research note on Monday, November 10th. The Goldman Sachs Group lifted their price target on shares of Calumet from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, UBS Group reissued a “neutral” rating and issued a $26.00 price objective on shares of Calumet in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $24.00.

Calumet Price Performance

Calumet stock opened at $30.40 on Friday. The stock’s 50 day moving average is $23.98 and its 200 day moving average is $20.44. Calumet, Inc. has a one year low of $7.68 and a one year high of $31.41. The firm has a market cap of $2.64 billion, a P/E ratio of -77.95 and a beta of 1.18.

Calumet (NASDAQ:CLMT) last released its earnings results on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.24. The firm had revenue of ($3,098.50) million for the quarter, compared to analyst estimates of $1.04 billion. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.47) EPS. Equities analysts anticipate that Calumet, Inc. will post -3.02 earnings per share for the current fiscal year.

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.