Knott David M Jr Decreases Stock Position in Calumet, Inc. $CLMT

Knott David M Jr decreased its holdings in shares of Calumet, Inc. (NASDAQ:CLMT) by 13.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,825,231 shares of the oil and gas company’s stock after selling 450,000 shares during the quarter. Calumet accounts for approximately 20.8% of Knott David M Jr’s investment portfolio, making the stock its largest position. Knott David M Jr owned 3.26% of Calumet worth $51,560,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Amalgamated Bank acquired a new stake in shares of Calumet in the 2nd quarter valued at approximately $37,000. State of Alaska Department of Revenue bought a new stake in shares of Calumet during the 3rd quarter valued at approximately $56,000. Ameritas Investment Partners Inc. acquired a new position in Calumet during the 2nd quarter worth approximately $111,000. Bessemer Group Inc. acquired a new position in Calumet during the 3rd quarter worth approximately $150,000. Finally, ProShare Advisors LLC bought a new position in Calumet in the 2nd quarter valued at approximately $223,000. Institutional investors own 34.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Calumet from $19.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research note on Monday, December 29th. The Goldman Sachs Group raised their price objective on Calumet from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, January 30th. UBS Group restated a “neutral” rating and set a $26.00 price objective on shares of Calumet in a research report on Friday, February 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $33.00 target price on shares of Calumet in a report on Monday, November 10th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $24.00.

Calumet Stock Performance

Shares of NASDAQ CLMT opened at $30.40 on Friday. The firm has a 50 day moving average price of $23.98 and a two-hundred day moving average price of $20.44. The stock has a market cap of $2.64 billion, a P/E ratio of -77.95 and a beta of 1.18. Calumet, Inc. has a 52-week low of $7.68 and a 52-week high of $31.41.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings results on Friday, February 27th. The oil and gas company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.24. The business had revenue of ($3,098.50) million for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted ($0.47) EPS. Calumet’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts predict that Calumet, Inc. will post -3.02 earnings per share for the current fiscal year.

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.