Calumet (NASDAQ:CLMT) Sets New 52-Week High Following Analyst Upgrade

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

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

Calumet News Roundup

Here are the key news stories impacting Calumet this week:

• Positive Sentiment: HC Wainwright keeps a “Buy” rating and a $33 price target on CLMT, a level above the current price that supports upside expectations for investors. The firm continues to publish multi-year recovery forecasts despite near-term losses. HC Wainwright Research Coverage
• Neutral Sentiment: Reported short-interest data shows 0 shares short and a 0.0 days-to-cover metric — likely a reporting anomaly. If accurate, negligible short interest removes a potential downside pressure, but the entry appears unreliable and should be viewed cautiously.
• Neutral Sentiment: A FY2029 earnings forecast was published by HC Wainwright (reported on AmericanBankingNews), but the item provides a forward-looking projection without new operational details; useful for modeling but not an immediate catalyst. FY2029 Forecast
• Neutral Sentiment: A PR Newswire release highlights record sales for TRUFUEL®. If TRUFUEL is part of Calumet’s branded products mix, rising consumer/retail sales support longer-term revenue diversification; however, the release is a general industry/brand sales item rather than direct corporate financial guidance. TRUFUEL Record Sales
• Negative Sentiment: TD Cowen raised its price target from $19 to $25 but maintained a “Hold” rating — their $25 target implies downside relative to the current trade level, signaling limited near-term upside from this shop and offering a mixed signal despite the higher target. TD Cowen Target Update
• Negative Sentiment: HC Wainwright materially lowered near- and medium-term EPS forecasts (FY2026, FY2027 and FY2028 revisions downward), trimming FY2026 to a larger loss and reducing FY2028 upside. Those cuts are a direct negative to valuation and short-term expectations despite the maintained Buy rating and $33 target. HC Wainwright EPS Revisions

Institutional Trading of Calumet

Hedge funds have recently bought and sold shares of the company. Amalgamated Bank bought a new position in Calumet during the second quarter valued at approximately $37,000. SP Asset Management LLC purchased a new stake in shares of Calumet in the 2nd quarter valued at $205,000. ProShare Advisors LLC bought a new position in shares of Calumet during the 2nd quarter valued at $223,000. Geode Capital Management LLC grew its holdings in shares of Calumet by 112.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,704,670 shares of the oil and gas company’s stock valued at $26,860,000 after purchasing an additional 901,933 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in Calumet in the 2nd quarter worth $245,000. Institutional investors own 34.41% of the company’s stock.

Calumet Price Performance

The firm’s 50 day simple moving average is $23.77 and its two-hundred day simple moving average is $20.32. The firm has a market capitalization of $2.63 billion, a P/E ratio of -77.66 and a beta of 1.18.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.24. The company had revenue of ($3,098.50) million for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the business posted ($0.47) earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts forecast that Calumet, Inc. will post -3.02 EPS for the current 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.