Shares of Calumet, Inc. (NASDAQ:CLMT – Get Free Report) shot up 7.2% during trading on Monday. The stock traded as high as $52.54 and last traded at $52.85. 398,605 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 1,262,832 shares. The stock had previously closed at $49.31.
Analyst Ratings Changes
Several brokerages recently commented on CLMT. The Goldman Sachs Group restated a “neutral” rating and set a $57.00 price objective on shares of Calumet in a research note on Wednesday. Citigroup reaffirmed a “buy” rating on shares of Calumet in a research note on Monday, August 10th. Zacks Research raised Calumet from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a report on Friday, August 7th. Finally, HC Wainwright lifted their price objective on Calumet from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Calumet currently has an average rating of “Hold” and an average price target of $54.75.
Get Our Latest Stock Analysis on Calumet
Calumet Stock Up 6.9%
The company has a market capitalization of $4.63 billion, a PE ratio of -33.88, a PEG ratio of 0.79 and a beta of 0.78. The stock’s fifty day simple moving average is $53.74 and its 200-day simple moving average is $42.53.
Calumet (NASDAQ:CLMT – Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The oil and gas company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($1.16). The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the firm posted ($1.70) earnings per share. The firm’s revenue was up 40.8% on a year-over-year basis. Analysts expect that Calumet, Inc. will post 1.28 EPS for the current year.
Institutional Investors Weigh In On Calumet
Several hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp increased its position in Calumet by 11.3% in the 2nd quarter. Fifth Third Bancorp now owns 3,407 shares of the oil and gas company’s stock worth $123,000 after buying an additional 346 shares during the period. GAMMA Investing LLC grew its holdings in shares of Calumet by 63.3% during the 3rd quarter. GAMMA Investing LLC now owns 926 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 359 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Calumet by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 29,852 shares of the oil and gas company’s stock valued at $1,075,000 after purchasing an additional 468 shares in the last quarter. Caldwell Sutter Capital Inc. increased its holdings in Calumet by 2.7% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 20,000 shares of the oil and gas company’s stock valued at $720,000 after buying an additional 517 shares during the period. Finally, Valeo Financial Advisors LLC increased its holdings in Calumet by 2.0% in the 3rd quarter. Valeo Financial Advisors LLC now owns 38,613 shares of the oil and gas company’s stock valued at $2,023,000 after buying an additional 760 shares during the period. 34.41% of the stock is currently owned by hedge funds and other institutional investors.
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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