Calumet (NASDAQ:CLMT) Hits New 12-Month High – What’s Next?

Calumet, Inc. (NASDAQ:CLMT)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $22.47 and last traded at $22.13, with a volume of 1870173 shares. The stock had previously closed at $21.47.

Wall Street Analysts Forecast Growth

CLMT has been the topic of a number of analyst reports. HC Wainwright reissued a “buy” rating and set a $33.00 price objective on shares of Calumet in a report on Monday, November 10th. Wall Street Zen downgraded Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a research note on Monday, December 29th. The Goldman Sachs Group upped their price objective on shares of Calumet from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, TD Cowen raised their target price on shares of Calumet from $15.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.04.

Calumet Trading Up 3.1%

The business’s fifty day moving average price is $19.77 and its 200 day moving average price is $18.23. The company has a market capitalization of $1.92 billion, a P/E ratio of -51.46 and a beta of 1.23.

Calumet (NASDAQ:CLMT) last posted its quarterly earnings results on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.09. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned ($1.18) EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts anticipate that Calumet, Inc. will post -3.02 EPS for the current year.

Institutional Investors Weigh In On Calumet

A number of hedge funds and other institutional investors have recently bought and sold shares of CLMT. Amalgamated Bank acquired a new position in Calumet in the second quarter worth $37,000. CWM LLC lifted its position in Calumet by 149,900.0% during the 4th quarter. CWM LLC now owns 3,000 shares of the oil and gas company’s stock worth $60,000 after buying an additional 2,998 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Calumet during the 3rd quarter worth about $56,000. Advisory Services Network LLC acquired a new stake in Calumet in the 3rd quarter valued at about $59,000. Finally, University of Texas Texas AM Investment Management Co. raised its stake in shares of Calumet by 109.4% in the second 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 acquiring an additional 1,750 shares during the last quarter. 34.41% of the stock is owned by institutional investors and hedge funds.

About Calumet

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is an independent provider of high-value, essential product solutions derived from both petroleum and renewable feedstocks. The company operates an integrated network of manufacturing plants, blending terminals and storage facilities across North America, delivering customized products and technical services to industrial, automotive, consumer and agricultural end markets. By leveraging its scale and technical expertise, Calumet tailors supply chain and formulation solutions to meet stringent regulatory and performance requirements.

Calumet’s product portfolio includes specialty lubricants and base oils for high-performance applications; process oils and waxes for food-grade, cosmetic and packaging uses; industrial solvents and cleaning solutions; and fuel additives designed to optimize engine performance and emissions.