Calumet, Inc. (CLMT) - What Are Analysts Saying About This Stock?

Key Points

• Analysts have a consensus “Hold” rating on Calumet, with one sell, three hold, two buy and one strong-buy recommendation. The average 12-month price target is $54.75, while recent targets range from $40 to $75.
• Calumet shares opened at $52.59, near the analyst average target, and have traded between $17.85 and $59.87 over the past year. The stock’s 200-day moving average is $42.33.
• The company reported a quarterly loss of $1.09 per share, missing expectations of $0.07, despite revenue rising 40.8% year over year to $1.45 billion. Institutional investors own 34.41% of the stock, with State Street increasing its position by 12.7%.

Shares of Calumet, Inc. (NASDAQ:CLMT - Get Free Report) have been given a consensus rating of "Hold" by the seven ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $54.75.

Several equities analysts have recently issued reports on the stock. Citigroup reaffirmed a "buy" rating on shares of Calumet in a research note on Monday, August 10th. TD Cowen lifted their price target on shares of Calumet from $34.00 to $40.00 and gave the stock a "hold" rating in a report on Wednesday, August 12th. HC Wainwright boosted their price objective on shares of Calumet from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Zacks Research upgraded Calumet from a "hold" rating to a "strong-buy" rating in a report on Monday, October 5th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $57.00 price objective on shares of Calumet in a report on Wednesday.

Calumet Price Performance

Shares of NASDAQ CLMT opened at $52.59 on Thursday. The company has a 50 day simple moving average of $53.69 and a 200 day simple moving average of $42.33. The firm has a market cap of $4.62 billion, a PE ratio of -33.93, a price-to-earnings-growth ratio of 0.90 and a beta of 0.78. Calumet has a 1 year low of $17.85 and a 1 year high of $59.87.

Calumet (NASDAQ:CLMT - Get Free Report) last posted its earnings results 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 company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the company posted ($1.70) EPS. Calumet's revenue for the quarter was up 40.8% compared to the same quarter last year. As a group, research analysts anticipate that Calumet will post 1.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Calumet

A number of institutional investors have recently made changes to their positions in the stock. O Keefe Stevens Advisory Inc. boosted its holdings in Calumet by 5.0% in the third quarter. O Keefe Stevens Advisory Inc. now owns 30,435 shares of the oil and gas company's stock valued at $1,594,000 after acquiring an additional 1,460 shares during the last quarter. GAMMA Investing LLC increased its position in Calumet by 63.3% during the 3rd quarter. GAMMA Investing LLC now owns 926 shares of the oil and gas company's stock valued at $49,000 after purchasing an additional 359 shares during the period. Farther Finance Advisors LLC increased its position in Calumet by 8,950.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 905 shares of the oil and gas company's stock valued at $47,000 after purchasing an additional 895 shares during the period. Valeo Financial Advisors LLC raised its holdings in Calumet by 2.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 38,613 shares of the oil and gas company's stock worth $2,023,000 after purchasing an additional 760 shares during the last quarter. Finally, State Street Corp raised its holdings in Calumet by 12.7% during the 2nd quarter. State Street Corp now owns 3,471,065 shares of the oil and gas company's stock worth $125,028,000 after purchasing an additional 390,906 shares during the last quarter. Institutional investors own 34.41% of the company's stock.

About Calumet

Calumet, formerly known as Calumet Specialty Products Partners, L.P., is a manufacturer of specialty hydrocarbon products and renewable fuels. The company refines crude oil and other feedstocks into products used in industrial, transportation, commercial and consumer applications.

Its specialty product portfolio includes base oils, lubricants, waxes, solvents, asphalt and other highly engineered hydrocarbon products. Calumet also produces fuels and renewable fuels, including renewable diesel and sustainable aviation fuel-related products through its renewable fuels operations.

Founded in 1916, the company serves customers across the United States and supplies products to a range of industries, including automotive, energy, manufacturing, infrastructure and aviation.

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