Jupiter Topco LLC Makes New $8.12 Million Investment in Calumet, Inc. $CLMT

Jupiter Topco LLC bought a new stake in Calumet, Inc. (NASDAQ:CLMT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 225,437 shares of the oil and gas company’s stock, valued at approximately $8,120,000.

Other large investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its position in Calumet by 11.3% in the second quarter. Fifth Third Bancorp now owns 3,407 shares of the oil and gas company’s stock valued at $123,000 after purchasing an additional 346 shares during the period. Covestor Ltd lifted its holdings in shares of Calumet by 29.1% in the 4th quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 492 shares during the period. Caldwell Sutter Capital Inc. boosted its stake in shares of Calumet by 2.7% in the second 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 in the last quarter. ProShare Advisors LLC grew its holdings in Calumet by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 12,613 shares of the oil and gas company’s stock worth $251,000 after acquiring an additional 817 shares during the period. Finally, Aster Capital Management DIFC Ltd raised its position in Calumet by 294.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 1,229 shares in the last quarter. 34.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of Calumet from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, August 12th. UBS Group upped their price target on Calumet from $26.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, August 25th. Citigroup reaffirmed a “buy” rating on shares of Calumet in a research note on Monday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research report on Friday, August 7th. Finally, The Goldman Sachs Group raised their price target on Calumet from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $48.00.

Calumet Stock Performance

Shares of NASDAQ:CLMT opened at $47.75 on Monday. The business’s fifty day moving average price is $41.91 and its two-hundred day moving average price is $35.37. The stock has a market cap of $4.20 billion, a PE ratio of -30.81 and a beta of 0.71. Calumet, Inc. has a one year low of $15.99 and a one year high of $51.50.

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

Insiders Place Their Bets

In other Calumet news, Director Daniel J. Sajkowski sold 4,240 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $36.16, for a total value of $153,318.40. Following the transaction, the director directly owned 77,718 shares in the company, valued at approximately $2,810,282.88. This represents a 5.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.15% of the company’s stock.

Calumet Company Profile

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.