Calumet, Inc. (NASDAQ:CLMT) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Shares of Calumet have an average analyst recommendation of “Hold” from eight brokerages (1 sell, 3 hold, 4 buy) with an average 12‑month price target of $24.00.
• Calumet reported quarterly EPS of ($0.43), beating the consensus (−$0.67) by $0.24, and revenue was up 9.4% year‑over‑year.
• The stock opened at $28.85, trades between a one‑year low of $7.68 and high of $31.41, has a market capitalization of about $2.5 billion, and roughly 34.4% of shares are held by institutional investors.

Shares of Calumet, Inc. (NASDAQ:CLMT - Get Free Report) have been assigned an average recommendation of "Hold" from the eight brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $24.00.

CLMT has been the subject of a number of recent research reports. TD Cowen boosted their price objective on shares of Calumet from $19.00 to $25.00 and gave the stock a "hold" rating in a research note on Thursday, March 5th. UBS Group reiterated a "neutral" rating and issued a $26.00 price target on shares of Calumet in a report on Friday, February 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Calumet in a research report on Monday, December 29th. The Goldman Sachs Group upped their price objective on Calumet from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Finally, Wall Street Zen downgraded Calumet from a "buy" rating to a "hold" rating in a research report on Sunday, December 14th.

Institutional Trading of Calumet

Institutional investors have recently modified their holdings of the company. Covestor Ltd raised its stake in shares of Calumet by 29.1% during the 4th 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 in the last quarter. O Keefe Stevens Advisory Inc. grew its holdings in Calumet by 2.2% in the third quarter. O Keefe Stevens Advisory Inc. now owns 27,416 shares of the oil and gas company's stock worth $500,000 after purchasing an additional 599 shares during the last quarter. ProShare Advisors LLC grew its holdings in Calumet by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 12,613 shares of the oil and gas company's stock worth $251,000 after purchasing an additional 817 shares during the last quarter. Aster Capital Management DIFC Ltd increased its position in shares of Calumet by 294.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company's stock worth $33,000 after purchasing an additional 1,229 shares in the last quarter. Finally, Islay Capital Management LLC acquired a new position in shares of Calumet during the fourth quarter worth $25,000. 34.41% of the stock is currently owned by institutional investors.

Calumet Stock Performance

NASDAQ CLMT opened at $28.85 on Wednesday. Calumet has a one year low of $7.68 and a one year high of $31.41. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of -73.97 and a beta of 1.18. The company's 50-day simple moving average is $24.35 and its two-hundred day simple moving average is $20.73.

Calumet (NASDAQ:CLMT - Get Free Report) last announced its quarterly earnings results on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.24. The business had revenue of ($3,098.50) million during the quarter, compared to analysts' expectations of $1.04 billion. During the same period in the previous year, the company posted ($0.47) EPS. Calumet's revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts expect that Calumet will post -3.02 earnings per share for the current fiscal year.

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.

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