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

Shares of Calumet, Inc. (NASDAQ:CLMT) reached a new 52-week high during 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 traded. The stock had previously closed at $29.32.

CLMT has been the subject of several other research reports. HC Wainwright reissued a “buy” rating and issued a $33.00 price target on shares of Calumet in a research report on Monday, November 10th. The Goldman Sachs Group raised their target price on shares of Calumet from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, January 30th. Zacks Research upgraded shares of Calumet from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Wall Street Zen downgraded shares of Calumet from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.00.

More 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)

Hedge Funds Weigh In On Calumet

A number of large investors have recently made changes to their positions in the stock. Tulsa Wealth Advisors INC purchased a new stake in Calumet during the fourth quarter worth about $212,000. Invesco Ltd. boosted its stake in shares of Calumet by 13.6% during the 4th 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 Calumet in the 4th quarter valued at approximately $620,000. Millennium Management LLC increased its stake in Calumet by 119.9% in the 4th quarter. Millennium Management LLC now owns 13,902 shares of the oil and gas company’s stock valued at $276,000 after purchasing an additional 83,844 shares in the last quarter. Finally, Trexquant Investment LP raised its holdings in Calumet by 45.5% during the fourth 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 last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Calumet Price Performance

The company has a market capitalization of $2.62 billion, a PE ratio of -77.49 and a beta of 1.18. The stock has a 50-day simple moving average of $23.56 and a 200 day simple moving average of $20.25.

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