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

Shares of Calumet, Inc. (NASDAQ:CLMT) have been assigned an average rating of “Hold” from the eight research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $20.0417.

Several research analysts have recently commented on the company. Zacks Research upgraded Calumet from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. TD Cowen raised their price target on Calumet from $15.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, November 11th. The Goldman Sachs Group upped their price objective on shares of Calumet from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. HC Wainwright reissued a “buy” rating and issued a $33.00 price objective on shares of Calumet in a research report on Monday, November 10th. Finally, Wall Street Zen cut shares of Calumet from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th.

Calumet Price Performance

Shares of CLMT opened at $20.85 on Tuesday. The company has a market cap of $1.81 billion, a PE ratio of -48.49 and a beta of 1.23. The firm has a 50-day moving average of $19.67 and a 200-day moving average of $18.14. Calumet has a one year low of $7.68 and a one year high of $22.10.

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

Hedge Funds Weigh In On Calumet

A number of large investors have recently made changes to their positions in the company. DAVENPORT & Co LLC bought a new stake in Calumet in the 4th quarter valued at $334,000. SG Americas Securities LLC boosted its position in shares of Calumet by 46.8% in the fourth quarter. SG Americas Securities LLC now owns 33,748 shares of the oil and gas company’s stock valued at $671,000 after acquiring an additional 10,756 shares during the period. BlueCrest Capital Management Ltd boosted its position in shares of Calumet by 25.0% in the third quarter. BlueCrest Capital Management Ltd now owns 60,000 shares of the oil and gas company’s stock valued at $1,095,000 after acquiring an additional 12,000 shares during the period. CIBC Bancorp USA Inc. acquired a new position in shares of Calumet in the third quarter valued at about $353,000. Finally, Advisory Services Network LLC bought a new position in Calumet during the third quarter worth about $59,000. Institutional investors own 34.41% of the company’s stock.

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.