Lombard Odier Asset Management USA Corp Cuts Stake in Calumet, Inc. $CLMT

Lombard Odier Asset Management USA Corp trimmed its position in shares of Calumet, Inc. (NASDAQ:CLMT) by 21.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 100,095 shares of the oil and gas company’s stock after selling 27,405 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Calumet were worth $1,989,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Covestor Ltd grew its position in Calumet by 29.1% during the 4th quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 492 shares during the last quarter. ProShare Advisors LLC grew its position in Calumet by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 12,613 shares of the oil and gas company’s stock valued at $251,000 after purchasing an additional 817 shares during the last quarter. Aster Capital Management DIFC Ltd grew its position in Calumet by 294.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 1,229 shares during the last quarter. Islay Capital Management LLC purchased a new stake in Calumet during the 4th quarter valued at about $25,000. Finally, Global Retirement Partners LLC purchased a new stake in Calumet during the 4th quarter valued at about $34,000. 34.41% of the stock is owned by hedge funds and other institutional investors.

Calumet Stock Down 2.2%

Shares of NASDAQ CLMT opened at $32.69 on Wednesday. The firm’s 50-day moving average price is $33.50 and its 200-day moving average price is $27.61. The company has a market cap of $2.85 billion, a PE ratio of -15.13 and a beta of 0.73. Calumet, Inc. has a 52-week low of $12.94 and a 52-week high of $38.75.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, May 8th. The oil and gas company reported ($3.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($3.31). The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1 billion. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.87) earnings per share. As a group, equities research analysts anticipate that Calumet, Inc. will post -0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on CLMT shares. HC Wainwright increased their price objective on shares of Calumet from $33.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, March 30th. TD Cowen reissued a “hold” rating on shares of Calumet in a research report on Wednesday, June 3rd. The Goldman Sachs Group downgraded shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a report on Friday, April 24th. Finally, Weiss Ratings raised shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Calumet has an average rating of “Hold” and a consensus target price of $36.75.

Insider Transactions at Calumet

In related news, major shareholder Group Heritage sold 626,998 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $32.54, for a total value of $20,402,514.92. Following the transaction, the insider owned 12,980,211 shares of the company’s stock, valued at approximately $422,376,065.94. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel J. Sajkowski sold 3,310 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $34.46, for a total transaction of $114,062.60. Following the completion of the transaction, the director directly owned 81,958 shares in the company, valued at approximately $2,824,272.68. The trade was a 3.88% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.07% of the company’s stock.

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.