Calumet, Inc. (NASDAQ:CLMT) Receives $19.71 Consensus Price Target from Brokerages

Shares of Calumet, Inc. (NASDAQ:CLMT) have earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $20.0417.

A number of brokerages have recently issued reports on CLMT. Weiss Ratings reissued a “sell (e+)” rating on shares of Calumet in a report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and set a $33.00 price objective on shares of Calumet in a research note on Monday. Zacks Research raised Calumet from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. TD Cowen upped their target price on shares of Calumet from $15.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, The Goldman Sachs Group increased their target price on shares of Calumet from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd.

Calumet Stock Performance

NASDAQ:CLMT opened at $18.93 on Thursday. The company has a 50-day moving average of $18.71 and a 200-day moving average of $16.17. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -3.63 and a beta of 1.09. Calumet has a 52 week low of $7.68 and a 52 week high of $23.75.

Calumet (NASDAQ:CLMT) last posted its earnings results on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.09. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.18) EPS. Sell-side analysts forecast that Calumet will post -3.02 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Wasserstein Debt Opportunities Management L.P. boosted its holdings in shares of Calumet by 3.2% in the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 5,817,012 shares of the oil and gas company’s stock worth $91,647,000 after acquiring an additional 180,197 shares in the last quarter. Adams Asset Advisors LLC boosted its stake in Calumet by 0.9% in the second quarter. Adams Asset Advisors LLC now owns 5,406,271 shares of the oil and gas company’s stock worth $85,176,000 after purchasing an additional 49,948 shares in the last quarter. Two Seas Capital LP grew its holdings in shares of Calumet by 56.9% during the second quarter. Two Seas Capital LP now owns 4,497,609 shares of the oil and gas company’s stock worth $70,860,000 after purchasing an additional 1,631,098 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Calumet by 112.4% in the second quarter. Geode Capital Management LLC now owns 1,704,670 shares of the oil and gas company’s stock valued at $26,860,000 after buying an additional 901,933 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Calumet by 3.4% in the second quarter. Bank of America Corp DE now owns 609,307 shares of the oil and gas company’s stock valued at $9,600,000 after buying an additional 20,110 shares during the last quarter. Institutional investors own 34.41% of the company’s stock.

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.