HC Wainwright Forecasts Calumet’s Q1 Earnings (NASDAQ:CLMT)

Calumet, Inc. (NASDAQ:CLMT) – Equities researchers at HC Wainwright issued their Q1 2026 earnings estimates for Calumet in a note issued to investors on Monday, March 2nd. HC Wainwright analyst A. Dayal anticipates that the oil and gas company will post earnings of ($0.63) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $33.00 target price on the stock. The consensus estimate for Calumet’s current full-year earnings is ($3.02) per share. HC Wainwright also issued estimates for Calumet’s Q2 2026 earnings at ($0.63) EPS, Q3 2026 earnings at ($0.51) EPS, Q4 2026 earnings at ($0.54) EPS, FY2026 earnings at ($2.32) EPS, FY2027 earnings at ($0.12) EPS and FY2028 earnings at $0.98 EPS.

Several other brokerages have also recently weighed in on CLMT. Wall Street Zen cut Calumet from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. TD Cowen reaffirmed a “hold” rating on shares of Calumet in a report on Thursday, January 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research note on Monday, December 29th. Zacks Research raised shares of Calumet from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Finally, The Goldman Sachs Group upped their price target on shares of Calumet from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.83.

Calumet Stock Performance

Shares of CLMT opened at $29.32 on Wednesday. Calumet has a 52-week low of $7.68 and a 52-week high of $30.35. The stock’s 50-day simple moving average is $23.56 and its 200 day simple moving average is $20.25. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -75.18 and a beta of 1.18.

Calumet (NASDAQ:CLMT) last released its quarterly earnings data on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates 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. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.47) earnings per share.

Hedge Funds Weigh In On Calumet

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Two Seas Capital LP increased its stake in shares of Calumet by 56.9% in the second quarter. Two Seas Capital LP now owns 4,497,609 shares of the oil and gas company’s stock worth $70,860,000 after buying an additional 1,631,098 shares during the period. Geode Capital Management LLC grew its holdings in Calumet by 112.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,704,670 shares of the oil and gas company’s stock worth $26,860,000 after acquiring an additional 901,933 shares during the last quarter. AYAL Capital Advisors Ltd purchased a new position in shares of Calumet in the second quarter valued at about $5,278,000. Mariner LLC increased its position in shares of Calumet by 959.6% in the third quarter. Mariner LLC now owns 369,408 shares of the oil and gas company’s stock valued at $6,742,000 after acquiring an additional 334,544 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of Calumet by 35.8% during the third quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock valued at $16,268,000 after acquiring an additional 234,766 shares during the last quarter. 34.41% of the stock is currently owned by institutional investors.

Calumet News Roundup

Here are the key news stories impacting Calumet this week:

• Positive Sentiment: HC Wainwright maintains a “Buy” rating and a $33 price target on CLMT, signaling continued analyst conviction in upside to the share price despite near‑term weakness. MarketBeat: CLMT coverage
• Positive Sentiment: HC Wainwright’s long‑run modeling is bullish: the firm projects material recovery by FY2029–FY2030 (FY2030 EPS forecast of $3.57), which can support speculative/investment interest in CLMT as a turnaround play. MarketBeat: CLMT coverage
• Neutral Sentiment: Reported short‑interest entries for early March show anomalous/zero values (0 shares / NaN changes); the data looks unreliable and does not provide a clear signal about bearish positioning or squeeze risk. (Source: internal short‑interest entries)
• Neutral Sentiment: Sector/industry note — TRUFUEL announced record monthly sales, reflecting strength in fuel demand for certain end markets; this is industry‑level color but not directly tied to Calumet’s corporate updates. TRUFUEL Press Release
• Negative Sentiment: HC Wainwright sharply reduced near‑term EPS expectations: FY2026 EPS lowered to ($2.32) from ($1.22), FY2027 cut to ($0.12) from $0.23, and FY2028 trimmed to $0.98 from $1.35. Quarterly EPS forecasts for 2026 are loss‑making across Q1–Q4 per the note. These downgrades increase short‑term downside risk to profits and can weigh on valuation until visibility improves. MarketBeat: CLMT coverage

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.