Calumet, Inc. $CLMT Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Calumet, Inc. by 33.5%, now holding approximately 465,269 shares valued at $5.9 million.
• UBS Group has raised its target price for Calumet shares from $12.00 to $13.25, maintaining a "neutral" rating, as the company receives a consensus rating of "Moderate Buy".
• Calumet reported a quarterly loss of ($1.70) EPS, significantly missing expectations, while revenue declined by 9.4% year-over-year.

Goldman Sachs Group Inc. increased its stake in Calumet, Inc. (NASDAQ:CLMT - Free Report) by 33.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465,269 shares of the oil and gas company's stock after buying an additional 116,777 shares during the period. Goldman Sachs Group Inc. owned 0.54% of Calumet worth $5,900,000 at the end of the most recent reporting period.

Analyst Ratings Changes

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

Calumet Price Performance

Shares of Calumet stock traded down $0.07 during trading hours on Friday, reaching $18.51. The company's stock had a trading volume of 1,733,858 shares, compared to its average volume of 872,394. Calumet, Inc. has a one year low of $7.68 and a one year high of $25.29. The firm has a 50 day moving average price of $16.16 and a 200-day moving average price of $14.06. The stock has a market cap of $1.61 billion, a P/E ratio of -3.55 and a beta of 0.97.

Calumet (NASDAQ:CLMT - Get Free Report) last released its quarterly 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 company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $982.88 million. During the same period in the previous year, the company posted ($0.48) earnings per share. The company's revenue for the quarter was down 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Calumet, Inc. will post -3.02 EPS for the current fiscal year.

Calumet Company 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.