HC Wainwright Forecasts Calumet’s Q3 Earnings (NASDAQ:CLMT)

Calumet, Inc. (NASDAQ:CLMT) – HC Wainwright boosted their Q3 2026 earnings estimates for shares of Calumet in a research note issued to investors on Wednesday, September 2nd. HC Wainwright analyst A. Dayal now forecasts that the oil and gas company will post earnings of $0.62 per share for the quarter, up from their prior forecast of $0.60. HC Wainwright currently has a “Buy” rating and a $75.00 target price on the stock. The consensus estimate for Calumet’s current full-year earnings is $0.46 per share. HC Wainwright also issued estimates for Calumet’s Q4 2026 earnings at $0.24 EPS.

A number of other equities research analysts have also issued reports on the company. The Goldman Sachs Group raised their price target on Calumet from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 18th. UBS Group raised their price target on shares of Calumet from $26.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a research note on Friday, August 7th. Citigroup reiterated a “buy” rating on shares of Calumet in a report on Monday, August 10th. Finally, TD Cowen lifted their target price on Calumet from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $51.75.

Calumet Trading Up 3.0%

Shares of CLMT opened at $53.07 on Thursday. The company has a market cap of $4.66 billion, a P/E ratio of -34.24 and a beta of 0.72. Calumet has a twelve month low of $16.13 and a twelve month high of $54.61. The company’s fifty day simple moving average is $43.01 and its 200-day simple moving average is $35.91.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, August 7th. The oil and gas company reported ($1.09) earnings per share 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 the consensus estimate of $1.12 billion. Calumet’s revenue was up 40.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.70) earnings per share.

Insider Activity at Calumet

In related news, Director Daniel J. Sajkowski sold 4,240 shares of the company’s 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 completion of the sale, the director directly owned 77,718 shares in the company, valued at $2,810,282.88. This represents a 5.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 3.15% of the company’s stock.

Institutional Trading of Calumet

A number of institutional investors have recently modified their holdings of CLMT. Legal & General Group Plc lifted its position in Calumet by 36.6% during the second quarter. Legal & General Group Plc now owns 72,143 shares of the oil and gas company’s stock valued at $1,137,000 after acquiring an additional 19,322 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Calumet in the 2nd quarter worth $343,000. Quantbot Technologies LP purchased a new position in Calumet during the 2nd quarter worth $241,000. Invesco Ltd. raised its stake in Calumet by 514.8% in the second quarter. Invesco Ltd. now owns 94,642 shares of the oil and gas company’s stock valued at $1,491,000 after buying an additional 79,247 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Calumet by 199.9% during the second quarter. The Manufacturers Life Insurance Company now owns 34,551 shares of the oil and gas company’s stock worth $544,000 after acquiring an additional 23,031 shares during the last quarter. 34.41% of the stock is currently owned by institutional investors.

Trending Headlines about Calumet

Here are the key news stories impacting Calumet this week:

• Positive Sentiment: EPA exemptions could substantially reduce costs. Calumet said the latest U.S. Environmental Protection Agency small-refinery exemptions are expected to reduce its renewable identification number (RIN) compliance liability by approximately $170 million. The savings could improve cash flow and profitability by lowering the cost of meeting federal renewable-fuel obligations. Calumet Provides Update After Latest U.S. EPA Small Refinery Exemption Decision
• Positive Sentiment: HC Wainwright raised its price target and earnings forecasts. The firm increased its CLMT target from $60 to $75 and maintained a “Buy” rating. It also lifted its projected 2026 EPS to $0.62 from $0.60 for the third quarter and to $0.24 from $0.22 for the fourth quarter. The revisions signal stronger expected operating performance and imply substantial upside from the referenced share price.
• Positive Sentiment: Montana Renewables remains a long-term growth catalyst. Calumet’s renewable fuels unit is adjusting its expansion strategy while targeting sustainable aviation fuel production capacity of up to 200 million gallons annually. Increased SAF capacity could strengthen the company’s exposure to renewable-fuel demand, although execution and capital requirements remain important considerations. Calumet’s Montana Renewables plans to raise SAF production capacity to 200M gal/year
• Neutral Sentiment: Investor visibility may increase. Calumet plans to attend the H.C. Wainwright conference, providing an opportunity to discuss its strategy, financial outlook, and renewable-fuels operations with investors. Calumet to Attend H.C. Wainwright Conference
• Neutral Sentiment: Analyst consensus remains cautious. Despite HC Wainwright’s bullish view, broader analyst coverage shows a consensus “Hold” recommendation, which could limit enthusiasm until Calumet demonstrates sustained earnings improvement.
• Negative Sentiment: Legal-investigation headlines add risk. Pomerantz LLP announced an investigation into potential claims on behalf of Calumet investors. The announcement does not establish wrongdoing, but it may create reputational and litigation uncertainty. Pomerantz Investor Alert

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.