Calumet’s (CLMT) Buy Rating Reiterated at HC Wainwright

Calumet (NASDAQ:CLMT)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $33.00 price target on the oil and gas company’s stock. HC Wainwright’s price objective indicates a potential upside of 71.96% from the stock’s previous close.

A number of other research firms have also recently issued reports on CLMT. The Goldman Sachs Group lifted their price target on Calumet from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Zacks Research upgraded shares of Calumet from a “strong sell” rating to a “hold” rating in a research report on Thursday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Calumet in a research report on Wednesday, October 8th. Finally, UBS Group increased their price target 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 analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.71.

Calumet Price Performance

Shares of CLMT opened at $19.19 on Monday. The company has a market capitalization of $1.66 billion, a P/E ratio of -3.68 and a beta of 1.09. Calumet has a one year low of $7.68 and a one year high of $23.75. The business’s 50 day simple moving average is $18.55 and its 200-day simple moving average is $16.02.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.18) EPS. On average, sell-side analysts anticipate that Calumet will post -3.02 EPS for the current fiscal year.

Institutional Trading of Calumet

A number of institutional investors have recently bought and sold shares of CLMT. Amalgamated Bank acquired a new position in shares of Calumet in the 2nd quarter valued at approximately $37,000. University of Texas Texas AM Investment Management Co. raised its holdings in Calumet by 109.4% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 3,350 shares of the oil and gas company’s stock worth $53,000 after buying an additional 1,750 shares during the period. State of Alaska Department of Revenue bought a new position in Calumet in the third quarter valued at approximately $56,000. Ameritas Investment Partners Inc. acquired a new position in shares of Calumet in the second quarter valued at approximately $111,000. Finally, Bessemer Group Inc. acquired a new position in shares of Calumet in the third quarter valued at approximately $150,000. Institutional investors and hedge funds 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.