Calumet, Inc. (NASDAQ:CLMT) Receives $36.75 Average PT from Analysts

Calumet, Inc. (NASDAQ:CLMT) has been given an average rating of “Hold” by the six brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $36.75.

CLMT has been the topic of several analyst reports. Weiss Ratings upgraded shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. TD Cowen reiterated a “hold” rating on shares of Calumet in a report on Wednesday, June 3rd. HC Wainwright increased their target price on shares of Calumet from $33.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 30th. Finally, The Goldman Sachs Group lowered shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 target price on the stock. in a report on Friday, April 24th.

Insider Buying and Selling at Calumet

In related news, major shareholder Group Heritage sold 626,998 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $32.54, for a total value of $20,402,514.92. Following the sale, the insider directly owned 12,980,211 shares of the company’s stock, valued at approximately $422,376,065.94. The trade was a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel J. Sajkowski sold 3,310 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $34.46, for a total transaction of $114,062.60. Following the completion of the sale, the director directly owned 81,958 shares in the company, valued at $2,824,272.68. This represents a 3.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 4.07% of the company’s stock.

Institutional Investors Weigh In On Calumet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLMT. Islay Capital Management LLC acquired a new stake in Calumet in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd increased its stake in Calumet by 294.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 1,229 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Calumet in the 4th quarter valued at $34,000. Covestor Ltd increased its stake in Calumet by 29.1% in the 4th quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 492 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Calumet in the 3rd quarter valued at $59,000. 34.41% of the stock is currently owned by institutional investors and hedge funds.

Calumet Stock Performance

Shares of CLMT stock opened at $32.92 on Friday. Calumet has a 52-week low of $12.94 and a 52-week high of $38.75. The stock has a market cap of $2.87 billion, a PE ratio of -15.24 and a beta of 0.73. The firm’s 50 day moving average price is $33.35 and its two-hundred day moving average price is $28.09.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, May 8th. The oil and gas company reported ($3.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($3.31). The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the previous year, the firm posted ($1.87) earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Calumet will post -0.28 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.