Lombard Odier Asset Management USA Corp Makes New Investment in Calumet, Inc. $CLMT

Lombard Odier Asset Management USA Corp bought a new stake in Calumet, Inc. (NASDAQ:CLMT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 127,500 shares of the oil and gas company’s stock, valued at approximately $2,327,000.

Other institutional investors also recently made changes to their positions in the company. Two Seas Capital LP increased its holdings in shares of Calumet by 56.9% in the 2nd quarter. Two Seas Capital LP now owns 4,497,609 shares of the oil and gas company’s stock valued at $70,860,000 after purchasing an additional 1,631,098 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Calumet by 112.4% in the second quarter. Geode Capital Management LLC now owns 1,704,670 shares of the oil and gas company’s stock valued at $26,860,000 after purchasing an additional 901,933 shares during the period. Marshall Wace LLP boosted its holdings in Calumet by 35.8% during the third quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock worth $16,268,000 after buying an additional 234,766 shares in the last quarter. Bank of America Corp DE boosted its holdings in Calumet by 3.4% during the second quarter. Bank of America Corp DE now owns 609,307 shares of the oil and gas company’s stock worth $9,600,000 after buying an additional 20,110 shares in the last quarter. Finally, AYAL Capital Advisors Ltd acquired a new position in Calumet during the second quarter worth about $5,278,000. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Calumet Trading Down 1.1%

Shares of CLMT opened at $28.28 on Tuesday. The stock has a market cap of $2.45 billion, a P/E ratio of -72.51 and a beta of 1.18. The company has a 50-day moving average of $25.07 and a two-hundred day moving average of $21.08. Calumet, Inc. has a 12-month low of $7.68 and a 12-month high of $31.41.

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

Calumet 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.