BlueCrest Capital Management Ltd Purchases 20,000 Shares of Calumet, Inc. $CLMT

BlueCrest Capital Management Ltd raised its position in shares of Calumet, Inc. (NASDAQ:CLMT) by 33.3% during the second quarter, HoldingsChannel reports. The firm owned 80,000 shares of the oil and gas company’s stock after purchasing an additional 20,000 shares during the period. BlueCrest Capital Management Ltd’s holdings in Calumet were worth $2,882,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nykredit A S bought a new position in shares of Calumet during the 2nd quarter valued at about $57,000. California State Teachers Retirement System lifted its position in Calumet by 3,320.8% in the 2nd quarter. California State Teachers Retirement System now owns 2,859,088 shares of the oil and gas company’s stock worth $102,984,000 after buying an additional 2,775,509 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in Calumet in the 2nd quarter worth approximately $2,067,000. AXQ Capital LP purchased a new stake in Calumet in the second quarter worth approximately $406,000. Finally, Hennessy Advisors Inc. purchased a new stake in Calumet in the second quarter worth approximately $10,201,000. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on CLMT. TD Cowen lifted their price target on shares of Calumet from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, August 12th. Citigroup reaffirmed a “buy” rating on shares of Calumet in a research note on Monday, August 10th. The Goldman Sachs Group increased their target price on shares of Calumet from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, August 18th. UBS Group lifted their target price on shares of Calumet from $26.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 25th. Finally, HC Wainwright boosted their price target on shares of Calumet from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $51.75.

Insider Buying and Selling

In related news, Director Daniel Sajkowski sold 4,240 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $36.16, for a total transaction of $153,318.40. Following the completion of the sale, the director directly owned 77,718 shares in the company, valued at $2,810,282.88. This represents a 5.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.15% of the stock is owned by corporate insiders.

Calumet Price Performance

Shares of Calumet stock opened at $55.69 on Thursday. The business’s 50 day simple moving average is $44.85 and its two-hundred day simple moving average is $36.79. The stock has a market capitalization of $4.90 billion, a P/E ratio of -35.93 and a beta of 0.72. Calumet, Inc. has a one year low of $17.08 and a one year high of $56.09.

Calumet (NASDAQ:CLMT) last released its quarterly earnings data on Friday, August 7th. The oil and gas company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($1.16). The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the business posted ($1.70) earnings per share. The business’s revenue for the quarter was up 40.8% on a year-over-year basis. Sell-side analysts expect that Calumet, Inc. will post 0.48 earnings per share for the current fiscal year.

About Calumet

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.