Calumet (NASDAQ:CLMT) Sets New 1-Year High on Analyst Upgrade

Shares of Calumet, Inc. (NASDAQ:CLMT) reached a new 52-week high during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $19.00 to $25.00. TD Cowen currently has a hold rating on the stock. Calumet traded as high as $30.35 and last traded at $30.13, with a volume of 971901 shares trading hands. The stock had previously closed at $29.32.

A number of other research firms have also weighed in on CLMT. HC Wainwright reissued a “buy” rating and issued a $33.00 price objective on shares of Calumet in a research report on Monday, November 10th. The Goldman Sachs Group boosted their price target on Calumet from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, January 30th. UBS Group restated a “neutral” rating and set a $26.00 price objective on shares of Calumet in a report on Friday, February 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research report on Monday, December 29th. Finally, Zacks Research raised Calumet from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.00.

Key Calumet News

Here are the key news stories impacting Calumet this week:

• Positive Sentiment: HC Wainwright continues to carry a “Buy” rating and a $33 target, implying meaningful upside if Calumet meets recovery expectations; this support likely helped buying interest. HC Wainwright coverage (MarketBeat)
• Positive Sentiment: TRUFUEL (a Calumet brand) reported record monthly sales, suggesting demand strength in specialty fuels that could help revenue and margin recovery over time. TRUFUEL record sales (PR Newswire)
• Neutral Sentiment: Short-interest data published for early March appears erroneous/zero (shows NaN and 0 shares); the reported days?to?cover of 0.0 is not informative and should be treated with caution by traders.
• Neutral Sentiment: HC Wainwright/FY2029 forecast mention (coverage continues into later years) — provides longer?term modeling but contains limited actionable detail for near?term trading. FY2029 Earnings Forecast (AmericanBankingNews)
• Negative Sentiment: TD Cowen raised its price target from $19 to $25 but kept a “Hold” rating; the $25 target is below the current market price, which could cap near?term upside or prompt some profit?taking. TD Cowen raises PT to $25 (TickerReport)
• Negative Sentiment: HC Wainwright cut FY2026–FY2028 earnings estimates materially (FY2026 from -$1.22 to -$2.32; FY2027 and FY2028 pushed lower), signaling weaker near?term profitability and raising execution risk despite the maintained Buy rating — this is a clear headwind for sentiment until results and guidance show improvement. Analyst estimate revisions (MarketBeat)

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Tulsa Wealth Advisors INC acquired a new position in Calumet during the fourth quarter valued at approximately $212,000. Invesco Ltd. increased its position in shares of Calumet by 13.6% in the fourth quarter. Invesco Ltd. now owns 123,607 shares of the oil and gas company’s stock worth $2,456,000 after acquiring an additional 14,769 shares in the last quarter. Numerai GP LLC purchased a new position in shares of Calumet in the 4th quarter valued at $620,000. Millennium Management LLC lifted its holdings in shares of Calumet by 119.9% during the 4th quarter. Millennium Management LLC now owns 13,902 shares of the oil and gas company’s stock valued at $276,000 after acquiring an additional 83,844 shares in the last quarter. Finally, Trexquant Investment LP boosted its position in Calumet by 45.5% during the 4th quarter. Trexquant Investment LP now owns 265,637 shares of the oil and gas company’s stock worth $5,278,000 after purchasing an additional 83,093 shares during the period. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Calumet Stock Performance

The firm has a fifty day moving average of $23.56 and a 200-day moving average of $20.25. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of -77.49 and a beta of 1.18.

Calumet (NASDAQ:CLMT) last posted its quarterly earnings data on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.24. The firm had revenue of ($3,098.50) million for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business earned ($0.47) EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts predict that Calumet, Inc. will post -3.02 EPS for the current year.

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.