Calumet (NASDAQ:CLMT) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Calumet (NASDAQ:CLMT) from a hold rating to a buy rating in a report published on Saturday.

Several other research firms have also recently issued reports on CLMT. UBS Group lifted their price objective on shares of Calumet from $12.00 to $13.25 and gave the company a “neutral” rating in a research report on Tuesday, August 12th. The Goldman Sachs Group raised their target price on shares of Calumet from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. TD Cowen lifted their price target on shares of Calumet from $15.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, November 11th. HC Wainwright reissued a “buy” rating and set a $33.00 price objective on shares of Calumet in a report on Monday, November 10th. Finally, Zacks Research upgraded Calumet from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.04.

Calumet Stock Down 0.6%

Shares of Calumet stock opened at $19.34 on Friday. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -44.98 and a beta of 1.18. The stock’s 50-day simple moving average is $18.99 and its 200-day simple moving average is $16.97. Calumet has a 52 week low of $7.68 and a 52 week high of $23.75.

Calumet (NASDAQ:CLMT) last issued its earnings results on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.09. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business posted ($1.18) EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities analysts expect that Calumet will post -3.02 earnings per share for the current year.

Institutional Trading of Calumet

Hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in Calumet by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 465,269 shares of the oil and gas company’s stock worth $5,900,000 after acquiring an additional 116,777 shares in the last quarter. Adams Asset Advisors LLC lifted its stake in shares of Calumet by 0.9% in the 2nd quarter. Adams Asset Advisors LLC now owns 5,406,271 shares of the oil and gas company’s stock valued at $85,176,000 after purchasing an additional 49,948 shares during the last quarter. Caldwell Sutter Capital Inc. lifted its stake in shares of Calumet by 29.9% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 19,483 shares of the oil and gas company’s stock valued at $307,000 after purchasing an additional 4,483 shares during the last quarter. Wasserstein Debt Opportunities Management L.P. boosted its holdings in shares of Calumet by 3.2% in the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 5,817,012 shares of the oil and gas company’s stock worth $91,647,000 after purchasing an additional 180,197 shares during the period. Finally, O Keefe Stevens Advisory Inc. increased its position in shares of Calumet by 12.1% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 26,817 shares of the oil and gas company’s stock valued at $423,000 after purchasing an additional 2,903 shares during the last quarter. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

Calumet Company Profile

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.