Brokerages Set Calumet, Inc. (NASDAQ:CLMT) PT at $37.75

Calumet, Inc. (NASDAQ:CLMT) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $41.50.

A number of research firms have issued reports on CLMT. Citigroup reaffirmed a “buy” rating on shares of Calumet in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a research note on Friday, August 7th. TD Cowen boosted their target price on shares of Calumet from $34.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, The Goldman Sachs Group upped their target price on shares of Calumet from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th.

Calumet Price Performance

Calumet stock opened at $47.19 on Friday. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of -30.45 and a beta of 0.71. Calumet has a fifty-two week low of $12.94 and a fifty-two week high of $47.62. The firm has a fifty day moving average price of $38.56 and a two-hundred day moving average price of $33.25.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings results on Friday, August 7th. The oil and gas company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate 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. The business’s revenue was up 40.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.70) earnings per share. As a group, sell-side analysts expect that Calumet will post 0.46 earnings per share for the current year.

Calumet News Summary

Here are the key news stories impacting Calumet this week:

• Positive Sentiment: Calumet delivered a strong second quarter, with adjusted EBITDA of $159 million versus the $116 million analyst estimate. Specialty Brands performed well, while early MaxSAF production at the Montana Renewables facility contributed to results. Robust cash flow is allowing the company to pay down debt rapidly and generate more than $1 per share in monthly free cash flow. Calumet Is Quietly Ramping Up
• Positive Sentiment: HC Wainwright significantly raised its 2026 earnings outlook, moving its forecast to $0.12 per share from a prior estimate of a $1.89 loss. The firm also shifted its estimates to $0.60 EPS for the third quarter and $0.22 EPS for the fourth quarter, suggesting expectations for a faster improvement in profitability.
• Positive Sentiment: One valuation analysis estimates Calumet’s sum-of-the-parts equity value at approximately $71.50 per share, based on higher cash generation, conservative EBITDA assumptions, and potential expansion upside. This implies additional appreciation potential if the company executes on its renewable fuels and specialty products growth plans. Calumet Is Quietly Ramping Up
• Neutral Sentiment: Reported short interest was listed at zero shares, unchanged from the prior period, but the data appears unreliable because the report also shows an undefined percentage change. It therefore provides little actionable information about potential short-covering support or selling pressure.
• Negative Sentiment: TD Cowen raised its price target to $40 from $34 but maintained a “hold” rating. Because the target remains below the recent trading level, the update signals limited near-term valuation upside from the firm’s perspective. Calumet Price Target Raised at TD Cowen
• Negative Sentiment: HC Wainwright reduced its 2027 EPS forecast to $0.59 from $0.69, indicating some caution about longer-term earnings growth. Additionally, the MaxSAF production ramp is progressing more slowly than planned, creating execution risk for Calumet’s renewable fuels strategy.

Insider Activity at Calumet

In related news, major shareholder Group Heritage sold 626,998 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $32.54, for a total value of $20,402,514.92. Following the completion of the transaction, the insider directly owned 12,980,211 shares in the company, valued at approximately $422,376,065.94. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel J. Sajkowski sold 4,240 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $36.16, for a total value of $153,318.40. Following the completion of the transaction, the director directly owned 77,718 shares of the company’s stock, valued at approximately $2,810,282.88. This trade represents a 5.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CLMT. Islay Capital Management LLC acquired a new stake in shares of Calumet in the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd lifted its stake in shares of Calumet by 294.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 1,229 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Calumet during the fourth quarter valued at $34,000. Covestor Ltd boosted its holdings in Calumet by 29.1% in the fourth quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 492 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Calumet in the third quarter worth about $59,000. 34.41% of the stock is currently owned by institutional investors and hedge funds.

About Calumet

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.