Calumet, Inc. (NASDAQ:CLMT) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Calumet, Inc. has a consensus analyst rating of “Hold”, based on six brokerage opinions: one sell, four hold, and one buy. The average 12-month price target is $36.75.
• The company’s latest quarterly results missed earnings expectations, with EPS of ($3.64) versus an expected ($0.33), though revenue of $1.03 billion slightly topped estimates and rose 3.6% year over year.
• Calumet shares were up 0.3% and recently traded near $39.58, close to the stock’s 12-month high of $41.37. Insider selling was also reported, including a major shareholder and a company director reducing their stakes.

Shares of Calumet, Inc. (NASDAQ:CLMT - Get Free Report) have earned an average rating of "Hold" from the six brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has 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 $36.75.

Several equities analysts recently commented on CLMT shares. Weiss Ratings upgraded Calumet from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, May 11th. The Goldman Sachs Group cut Calumet from a "buy" rating to a "neutral" rating and set a $36.00 price target on the stock. in a research report on Friday, April 24th. TD Cowen reissued a "hold" rating on shares of Calumet in a report on Wednesday, June 3rd. Finally, HC Wainwright boosted their target price on shares of Calumet from $33.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, March 30th.

Calumet Stock Up 0.3%

NASDAQ CLMT opened at $39.58 on Tuesday. The stock has a market cap of $3.45 billion, a P/E ratio of -18.32 and a beta of 0.72. The company's 50-day simple moving average is $34.66 and its 200 day simple moving average is $29.76. Calumet has a twelve month low of $12.94 and a twelve month high of $41.37.

Calumet (NASDAQ:CLMT - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The oil and gas company reported ($3.64) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($3.31). The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1 billion. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the company posted ($1.87) EPS. Research analysts anticipate that Calumet will post -0.28 earnings per share for the current year.

Insider Activity at Calumet

In related news, major shareholder Group Heritage sold 626,998 shares of the firm's stock in a transaction on 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 completion of the sale, the insider directly owned 12,980,211 shares of the company's stock, valued at $422,376,065.94. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel J. Sajkowski sold 4,240 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $36.16, for a total transaction of $153,318.40. Following the completion of the sale, the director owned 77,718 shares of the company's stock, valued at $2,810,282.88. The trade was a 5.17% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.07% of the company's stock.

Institutional Trading of Calumet

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in Calumet by 65.1% in the 1st quarter. Bank of America Corp DE now owns 1,153,744 shares of the oil and gas company's stock worth $41,419,000 after purchasing an additional 454,985 shares during the last quarter. Renaissance Technologies LLC bought a new position in Calumet in the 1st quarter valued at $14,066,000. Mariner LLC boosted its position in Calumet by 959.6% in the 3rd quarter. Mariner LLC now owns 369,408 shares of the oil and gas company's stock valued at $6,742,000 after buying an additional 334,544 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Calumet by 35.8% in the 3rd quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company's stock valued at $16,268,000 after buying an additional 234,766 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Calumet by 128.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 348,115 shares of the oil and gas company's stock valued at $6,917,000 after buying an additional 195,627 shares during the period. Institutional investors and hedge funds 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.

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