Calumet, Inc. $CLMT is Adams Asset Advisors LLC's 2nd Largest Position

Key Points

• Adams Asset Advisors LLC acquired an additional 49,948 shares of Calumet, increasing its total holdings to 5,406,271 shares, making it 12.0% of its investment portfolio.
• Goldman Sachs Group Inc. also increased its stake in Calumet by 33.5%, now owning 465,269 shares valued at approximately $5.9 million.
• UBS Group adjusted its price target for Calumet from $12.00 to $13.25 and the stock holds a consensus rating of "Moderate Buy" with a targeted average price of $18.71.

Adams Asset Advisors LLC increased its holdings in shares of Calumet, Inc. (NASDAQ:CLMT - Free Report) by 0.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,406,271 shares of the oil and gas company's stock after acquiring an additional 49,948 shares during the period. Calumet comprises 12.0% of Adams Asset Advisors LLC's portfolio, making the stock its 2nd biggest position. Adams Asset Advisors LLC owned about 6.27% of Calumet worth $85,176,000 as of its most recent SEC filing.

Separately, Goldman Sachs Group Inc. raised its position in shares of Calumet by 33.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 465,269 shares of the oil and gas company's stock worth $5,900,000 after acquiring an additional 116,777 shares in the last quarter. 34.41% of the stock is owned by hedge funds and other institutional investors.

Calumet Stock Up 0.4%

Shares of Calumet stock traded up $0.08 during mid-day trading on Friday, reaching $18.66. 277,578 shares of the stock traded hands, compared to its average volume of 1,173,192. The business has a 50-day moving average of $16.12 and a 200 day moving average of $14.02. Calumet, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $25.29. The stock has a market capitalization of $1.62 billion, a PE ratio of -3.58 and a beta of 0.97.

Calumet (NASDAQ:CLMT - Get Free Report) last announced its earnings results on Friday, August 8th. The oil and gas company reported ($1.70) EPS for the quarter, missing analysts' consensus estimates of ($0.44) by ($1.26). The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $982.88 million. During the same period in the prior year, the firm earned ($0.48) earnings per share. Calumet's revenue was down 9.4% on a year-over-year basis. On average, equities research analysts expect that Calumet, Inc. will post -3.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, UBS Group boosted their target price on Calumet from $12.00 to $13.25 and gave the stock a "neutral" rating in a research note on Tuesday, August 12th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.71.

Calumet Profile

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.