Brokerages Set Calumet, Inc. (NASDAQ:CLMT) PT at $37.75

Shares of Calumet, Inc. (NASDAQ:CLMT) have been given an average rating of “Hold” by the seven research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $37.75.

Several research firms recently weighed in on CLMT. Citigroup restated a “buy” rating on shares of Calumet in a research note on Monday. The Goldman Sachs Group increased their price target on shares of Calumet from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a research report on Friday. Finally, TD Cowen restated a “hold” rating on shares of Calumet in a report on Wednesday, June 3rd.

Calumet Price Performance

Shares of NASDAQ CLMT opened at $45.47 on Friday. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of -29.34 and a beta of 0.71. The business has a 50-day moving average of $38.17 and a two-hundred day moving average of $32.89. Calumet has a 1 year low of $12.94 and a 1 year high of $45.55.

Calumet (NASDAQ:CLMT) last released its quarterly earnings data on Friday, August 7th. The oil and gas company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates 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. During the same quarter in the prior year, the firm posted ($1.70) EPS. The business’s revenue was up 40.8% on a year-over-year basis. As a group, equities research analysts expect that Calumet will post -0.13 earnings per share for the current year.

Insider Buying and Selling at Calumet

In other Calumet news, major shareholder Group Heritage sold 626,998 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $32.54, for a total transaction of $20,402,514.92. Following the transaction, the insider owned 12,980,211 shares of the company’s stock, valued at approximately $422,376,065.94. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel J. Sajkowski sold 4,240 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $36.16, for a total value of $153,318.40. Following the transaction, the director directly owned 77,718 shares in the company, valued at approximately $2,810,282.88. The trade was a 5.17% decrease in their position. The SEC filing for this sale provides additional information. 3.15% of the stock is owned by company insiders.

Institutional Trading of Calumet

Large investors have recently made changes to their positions in the company. Islay Capital Management LLC purchased a new position in Calumet during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd boosted its holdings in shares of Calumet by 294.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 1,229 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Calumet in the fourth quarter valued at approximately $34,000. Covestor Ltd grew its position in shares of Calumet by 29.1% during the fourth quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 492 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Calumet during the third quarter worth approximately $59,000. 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.