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

Shares of Calumet, Inc. (NASDAQ:CLMT) have been assigned an average recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $20.0417.

Several equities analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of Calumet in a report on Monday, November 10th. Wall Street Zen lowered Calumet from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. TD Cowen raised their target price on Calumet from $15.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Calumet in a report on Monday. Finally, The Goldman Sachs Group increased their price objective 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.

Calumet Trading Down 0.3%

Shares of Calumet stock opened at $19.73 on Friday. Calumet has a 1 year low of $7.68 and a 1 year high of $23.75. The company’s fifty day simple moving average is $19.47 and its 200-day simple moving average is $17.70. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -45.88 and a beta of 1.18.

Calumet (NASDAQ:CLMT) last posted its quarterly earnings results on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.09. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the business earned ($1.18) earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, research analysts forecast that Calumet will post -3.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Calumet

A number of hedge funds have recently modified their holdings of CLMT. Wasserstein Debt Opportunities Management L.P. boosted its stake in 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 valued at $91,647,000 after buying an additional 180,197 shares in the last quarter. Adams Asset Advisors LLC lifted its holdings in shares of Calumet by 0.9% during the second 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 acquiring an additional 49,948 shares during the period. Two Seas Capital LP boosted its stake in shares of Calumet by 56.9% in the 2nd quarter. Two Seas Capital LP now owns 4,497,609 shares of the oil and gas company’s stock valued at $70,860,000 after purchasing an additional 1,631,098 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Calumet by 112.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,704,670 shares of the oil and gas company’s stock worth $26,860,000 after purchasing an additional 901,933 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Calumet by 35.8% in the 3rd quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock worth $16,268,000 after purchasing an additional 234,766 shares during the last quarter. 34.41% of the stock is owned by institutional investors and hedge funds.

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.