Calumet, Inc. (NASDAQ:CLMT – Free Report) – Investment analysts at HC Wainwright increased their FY2026 earnings estimates for shares of Calumet in a report released on Monday, November 9th. HC Wainwright analyst A. Dayal now expects that the oil and gas company will earn $3.01 per share for the year, up from their prior forecast of $0.17. HC Wainwright has a “Buy” rating and a $75.00 price objective on the stock. The consensus estimate for Calumet’s current full-year earnings is $1.67 per share. HC Wainwright also issued estimates for Calumet’s Q4 2026 earnings at $0.60 EPS and FY2027 earnings at $2.06 EPS.
A number of other analysts have also recently issued reports on CLMT. TD Cowen lifted their price objective on Calumet from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, August 12th. Zacks Research lowered Calumet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 3rd. UBS Group upped their target price on Calumet from $26.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 25th. Citigroup reaffirmed a “buy” rating on shares of Calumet in a research note on Monday, August 10th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $57.00 price target on shares of Calumet in a report on Wednesday, October 21st. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $54.75.
Read Our Latest Stock Report on Calumet
Calumet Trading Down 3.2%
Shares of NASDAQ:CLMT opened at $34.91 on Wednesday. Calumet has a 1 year low of $17.85 and a 1 year high of $59.87. The business has a fifty day simple moving average of $52.89 and a 200 day simple moving average of $39.14. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -15.52, a P/E/G ratio of 0.44 and a beta of 0.65.
Calumet (NASDAQ:CLMT – Get Free Report) last posted its quarterly earnings results on Friday, November 6th. The oil and gas company reported $2.91 EPS for the quarter, beating the consensus estimate of $1.63 by $1.28. Calumet had a negative net margin of 3.73% and a negative return on equity of 32.93%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the company posted $3.61 EPS. Calumet’s revenue was up 56.1% on a year-over-year basis.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of CLMT. Two Seas Capital LP acquired a new position in shares of Calumet during the 2nd quarter worth $238,442,000. BlackRock Inc. lifted its stake in shares of Calumet by 5.1% in the 2nd quarter. BlackRock Inc. now owns 5,234,106 shares of the oil and gas company’s stock valued at $188,532,000 after purchasing an additional 253,578 shares during the last quarter. State Street Corp lifted its stake in shares of Calumet by 12.7% in the 2nd quarter. State Street Corp now owns 3,471,065 shares of the oil and gas company’s stock valued at $125,028,000 after purchasing an additional 390,906 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Calumet by 65.1% in the 1st quarter. Bank of America Corp DE now owns 1,153,744 shares of the oil and gas company’s stock valued at $41,419,000 after purchasing an additional 454,985 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Calumet in the first quarter worth $14,066,000. Institutional investors and hedge funds own 34.41% of the company’s stock.
About Calumet
Calumet, Inc. is a U.S.-based producer of specialty hydrocarbon products, renewable fuels and conventional fuels. Its products serve customers in industries such as manufacturing, transportation, energy and consumer goods. The company’s specialty products include lubricating oils, solvents, waxes, petrolatums and asphalt. It also produces gasoline, diesel and other fuels, and through its Montana Renewables business makes lower-carbon fuels, including sustainable aviation fuel and renewable diesel.
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