Deutsche Bank AG Increases Stock Position in Calumet, Inc. $CLMT

Deutsche Bank AG grew its holdings in shares of Calumet, Inc. (NASDAQ:CLMT) by 27.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 78,712 shares of the oil and gas company’s stock after buying an additional 16,910 shares during the period. Deutsche Bank AG’s holdings in Calumet were worth $2,835,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE lifted its position in Calumet by 65.1% during the 1st quarter. Bank of America Corp DE now owns 1,153,744 shares of the oil and gas company’s stock valued at $41,419,000 after acquiring an additional 454,985 shares during the period. Renaissance Technologies LLC purchased a new stake in Calumet in the first quarter worth about $14,066,000. Mariner LLC increased its stake in shares of Calumet by 959.6% during the third quarter. Mariner LLC now owns 369,408 shares of the oil and gas company’s stock valued at $6,742,000 after purchasing an additional 334,544 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Calumet by 35.8% during the third quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock valued at $16,268,000 after purchasing an additional 234,766 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Calumet by 128.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 348,115 shares of the oil and gas company’s stock valued at $6,917,000 after purchasing an additional 195,627 shares during the last quarter. 34.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Calumet

In related news, Director Daniel J. Sajkowski sold 4,240 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $36.16, for a total transaction of $153,318.40. Following the sale, the director directly owned 77,718 shares of the company’s stock, valued at $2,810,282.88. This trade represents a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. UBS Group boosted their price target on Calumet from $26.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research note on Friday, August 7th. Citigroup reissued a “buy” rating on shares of Calumet in a report on Monday, August 10th. The Goldman Sachs Group increased their target price on Calumet from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 18th. Finally, TD Cowen raised their price target on Calumet from $34.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Calumet presently has a consensus rating of “Hold” and a consensus price target of $48.00.

Calumet Stock Up 1.6%

NASDAQ:CLMT opened at $47.79 on Thursday. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of -30.83 and a beta of 0.71. The company’s 50 day moving average price is $41.34 and its 200-day moving average price is $35.07. Calumet, Inc. has a 52 week low of $15.79 and a 52 week high of $51.50.

Calumet (NASDAQ:CLMT) last issued its earnings results on Friday, August 7th. The oil and gas company reported ($1.09) EPS for the quarter, missing the consensus estimate of $0.07 by ($1.16). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.12 billion. The company’s revenue was up 40.8% on a year-over-year basis. During the same quarter last year, the company posted ($1.70) EPS. As a group, sell-side analysts anticipate that Calumet, Inc. will post 0.46 earnings per share for the current year.

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.