Citigroup Inc. Boosts Stock Position in Calumet, Inc. $CLMT

Citigroup Inc. increased its stake in shares of Calumet, Inc. (NASDAQ:CLMT) by 111.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 180,779 shares of the oil and gas company’s stock after buying an additional 95,383 shares during the quarter. Citigroup Inc. owned about 0.21% of Calumet worth $3,299,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CLMT. O Keefe Stevens Advisory Inc. grew its holdings in shares of Calumet by 2.2% in the third quarter. O Keefe Stevens Advisory Inc. now owns 27,416 shares of the oil and gas company’s stock valued at $500,000 after purchasing an additional 599 shares during the period. one8zero8 LLC boosted its holdings in Calumet by 1.2% in the 3rd quarter. one8zero8 LLC now owns 189,695 shares of the oil and gas company’s stock valued at $3,462,000 after purchasing an additional 2,195 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Calumet in the 2nd quarter valued at approximately $37,000. State of Alaska Department of Revenue acquired a new stake in shares of Calumet during the 3rd quarter worth approximately $56,000. Finally, California State Teachers Retirement System increased its holdings in shares of Calumet by 7.3% during the 2nd quarter. California State Teachers Retirement System now owns 63,529 shares of the oil and gas company’s stock worth $1,001,000 after buying an additional 4,304 shares during the last quarter. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CLMT. UBS Group reiterated a “neutral” rating and issued a $26.00 price objective on shares of Calumet in a research report on Friday, February 13th. Wall Street Zen cut Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. The Goldman Sachs Group boosted their price objective on shares of Calumet from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, January 30th. Zacks Research raised shares of Calumet from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $33.00 price target on shares of Calumet in a research note on Monday, November 10th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Calumet currently has a consensus rating of “Hold” and an average price target of $24.00.

Calumet Stock Up 3.3%

Shares of Calumet stock opened at $30.29 on Friday. Calumet, Inc. has a 52 week low of $7.68 and a 52 week high of $30.52. The firm’s 50 day moving average is $23.77 and its two-hundred day 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 issued its earnings results on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.24. The company had revenue of ($3,098.50) million during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the company posted ($0.47) EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts expect that Calumet, Inc. will post -3.02 earnings per share for the current fiscal year.

Key Stories Impacting Calumet

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

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.