Calumet, Inc. (NASDAQ:CLMT) Given Average Rating of “Hold” by Brokerages

Calumet, Inc. (NASDAQ:CLMT) has received an average recommendation of “Hold” from the eight brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $22.8333.

A number of analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $33.00 price objective on shares of Calumet in a research note on Monday, November 10th. Wall Street Zen cut Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. TD Cowen restated a “hold” rating on shares of Calumet in a research report on Thursday, January 29th. Zacks Research upgraded Calumet from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, The Goldman Sachs Group lifted their target price on Calumet from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, January 30th.

Institutional Trading of Calumet

Institutional investors and hedge funds have recently bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. lifted its stake in Calumet by 109.4% in the 2nd 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 purchasing an additional 1,750 shares in the last quarter. ELCO Management Co. LLC increased its holdings in shares of Calumet by 31.9% in the second quarter. ELCO Management Co. LLC now owns 43,060 shares of the oil and gas company’s stock worth $678,000 after purchasing an additional 10,402 shares during the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of 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 buying an additional 1,320 shares in the last quarter. Amalgamated Bank bought a new position in Calumet during the second quarter valued at approximately $37,000. Finally, SP Asset Management LLC purchased a new position in Calumet during the 2nd quarter valued at approximately $205,000. 34.41% of the stock is currently owned by institutional investors.

Calumet Trading Up 2.7%

Shares of NASDAQ:CLMT opened at $29.50 on Friday. The stock has a 50 day moving average of $21.80 and a 200 day moving average of $19.25. The company has a market cap of $2.56 billion, a PE ratio of -68.60 and a beta of 1.24. Calumet has a 12-month low of $7.68 and a 12-month high of $29.92.

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.