1,339,049 Calumet, Inc. $CLMT Shares Sold by Two Seas Capital LP

Two Seas Capital LP reduced its holdings in shares of Calumet, Inc. (NASDAQ:CLMT) by 20.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,280,659 shares of the oil and gas company’s stock after selling 1,339,049 shares during the period. Calumet comprises 3.2% of Two Seas Capital LP’s portfolio, making the stock its 2nd largest holding. Two Seas Capital LP owned 0.06% of Calumet worth $276,601,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CLMT. Islay Capital Management LLC purchased a new position in shares of Calumet during the 4th quarter worth $25,000. Nykredit A S purchased a new stake in shares of Calumet in the 2nd quarter worth $57,000. Global Retirement Partners LLC purchased a new stake in shares of Calumet in the 2nd quarter worth $61,000. KBC Group NV bought a new position in Calumet in the 1st quarter worth $69,000. Finally, Quantbot Technologies LP purchased a new position in Calumet during the second quarter valued at $89,000. 34.41% of the stock is currently owned by institutional investors.

Calumet Trading Up 0.4%

Calumet stock traded up $0.23 during mid-day trading on Tuesday, hitting $56.26. The stock had a trading volume of 850,881 shares, compared to its average volume of 1,253,255. Calumet, Inc. has a one year low of $17.42 and a one year high of $59.87. The firm has a market capitalization of $4.95 billion, a P/E ratio of -36.30 and a beta of 0.78. The firm’s 50 day moving average is $50.41 and its 200 day moving average is $40.19.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, August 7th. The oil and gas company reported ($1.09) EPS for the quarter, missing the consensus estimate of $0.07 by ($1.16). The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.12 billion. The firm’s quarterly revenue was up 40.8% on a year-over-year basis. During the same quarter last year, the firm earned ($1.70) EPS. As a group, equities research analysts forecast that Calumet, Inc. will post 0.76 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. HC Wainwright boosted their price target on Calumet from $60.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Citigroup reaffirmed a “buy” rating on shares of Calumet in a research note on Monday, August 10th. UBS Group boosted their price objective on Calumet from $26.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, August 25th. TD Cowen increased their target price on shares of Calumet from $34.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, August 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Calumet currently has an average rating of “Hold” and an average target price of $51.75.

About Calumet

Calumet, Inc (NASDAQ: CLMT) is a specialty products and renewable fuels company headquartered in Indianapolis, Indiana. The company develops, produces and markets a range of products derived from crude oil and renewable feedstocks for industrial, commercial and consumer applications.

Its specialty products portfolio includes lubricants, solvents, waxes, asphalt and other hydrocarbon-based products, as well as products used in manufacturing, transportation, infrastructure and consumer goods.