25,200 Calumet, Inc. $CLMT Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its stake in shares of Calumet, Inc. (NASDAQ:CLMT) by 8.9% during the 3rd quarter, Holdings Channel reports. The fund owned 258,000 shares of the oil and gas company’s stock after selling 25,200 shares during the quarter. Hennessy Advisors Inc.’s holdings in Calumet were worth $13,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its holdings in Calumet by 8,950.0% in the third quarter. Farther Finance Advisors LLC now owns 905 shares of the oil and gas company’s stock valued at $47,000 after acquiring an additional 895 shares during the period. GAMMA Investing LLC grew its stake in shares of Calumet by 63.3% during the 3rd quarter. GAMMA Investing LLC now owns 926 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 359 shares during the period. Nykredit A S acquired a new stake in shares of Calumet during the 2nd quarter worth approximately $57,000. Global Retirement Partners LLC purchased a new position in shares of Calumet during the 2nd quarter valued at approximately $61,000. Finally, KBC Group NV purchased a new position in shares of Calumet during the 1st quarter valued at approximately $69,000. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CLMT shares. Zacks Research upgraded shares of Calumet from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. The Goldman Sachs Group restated a “neutral” rating and set a $57.00 price target on shares of Calumet in a research report on Wednesday, October 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Calumet in a report on Friday, August 7th. UBS Group upped their price objective 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, TD Cowen upped their price objective on shares of Calumet from $34.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $54.75.

Calumet Stock Performance

NASDAQ CLMT opened at $49.65 on Monday. The company has a market cap of $4.36 billion, a P/E ratio of -32.03, a P/E/G ratio of 0.79 and a beta of 0.65. Calumet, Inc. has a one year low of $17.85 and a one year high of $59.87. The business has a fifty day moving average price of $53.74 and a 200 day moving average price of $38.39.

Calumet (NASDAQ:CLMT) last issued its earnings results on Friday, August 7th. The oil and gas company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($1.16). The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the company posted ($1.70) EPS. Calumet’s revenue was up 40.8% on a year-over-year basis. As a group, sell-side analysts predict that Calumet, Inc. will post 1.28 EPS for the current fiscal year.

About Calumet

Calumet, formerly known as Calumet Specialty Products Partners, L.P., is a manufacturer of specialty hydrocarbon products and renewable fuels. The company refines crude oil and other feedstocks into products used in industrial, transportation, commercial and consumer applications.

Its specialty product portfolio includes base oils, lubricants, waxes, solvents, asphalt and other highly engineered hydrocarbon products. Calumet also produces fuels and renewable fuels, including renewable diesel and sustainable aviation fuel-related products through its renewable fuels operations.

Founded in 1916, the company serves customers across the United States and supplies products to a range of industries, including automotive, energy, manufacturing, infrastructure and aviation.