Analysts Set Calumet, Inc. (NASDAQ:CLMT) Target Price at $20.04

Shares of Calumet, Inc. (NASDAQ:CLMT) have been assigned an average rating of “Hold” from the eight brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $20.0417.

CLMT has been the subject of a number of research analyst reports. Zacks Research upgraded Calumet from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. The Goldman Sachs Group raised their price objective on Calumet from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a report on Monday, December 29th. HC Wainwright reiterated a “buy” rating and issued a $33.00 price target on shares of Calumet in a research note on Monday, November 10th. Finally, 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 research report on Tuesday, November 11th.

Calumet Stock Performance

NASDAQ CLMT opened at $21.13 on Tuesday. The stock has a market cap of $1.83 billion, a P/E ratio of -49.14 and a beta of 1.23. Calumet has a fifty-two week low of $7.68 and a fifty-two week high of $22.10. The stock has a 50 day simple moving average of $19.71 and a two-hundred day simple moving average of $18.18.

Calumet (NASDAQ:CLMT) last announced its earnings results on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.09. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted ($1.18) EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. Sell-side analysts predict 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 stock. O Keefe Stevens Advisory Inc. grew its stake in shares of Calumet by 2.2% in the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 27,416 shares of the oil and gas company’s stock worth $500,000 after buying an additional 599 shares during the last quarter. Premier Path Wealth Partners LLC boosted its holdings in Calumet by 11.4% in the second quarter. Premier Path Wealth Partners LLC now owns 12,853 shares of the oil and gas company’s stock worth $202,000 after acquiring an additional 1,320 shares in the last quarter. University of Texas Texas AM Investment Management Co. grew its stake in shares of Calumet by 109.4% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 3,350 shares of the oil and gas company’s stock worth $53,000 after acquiring an additional 1,750 shares during the last quarter. one8zero8 LLC increased its holdings in shares of Calumet by 1.2% during the third quarter. one8zero8 LLC now owns 189,695 shares of the oil and gas company’s stock valued at $3,462,000 after acquiring an additional 2,195 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Calumet in the 2nd quarter worth about $37,000. 34.41% of the stock is owned by institutional investors.

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.