Calumet (NASDAQ:CLMT) Hits New 1-Year High – Should You Buy?

Shares of Calumet, Inc. (NASDAQ:CLMT) reached a new 52-week high during trading on Tuesday . The company traded as high as $45.55 and last traded at $45.47, with a volume of 2670204 shares. The stock had previously closed at $39.48.

Key Stories Impacting Calumet

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.

Analysts Set New Price Targets

CLMT has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Calumet from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Citigroup restated a “buy” rating on shares of Calumet in a research report on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Calumet in a research note on Friday, August 7th. Finally, TD Cowen upped their target price on Calumet from $34.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Calumet presently has a consensus rating of “Hold” and a consensus target price of $41.50.

Calumet Trading Up 2.5%

The company’s 50 day moving average is $38.56 and its 200 day moving average is $33.25. The company has a market cap of $4.11 billion, a PE ratio of -30.45 and a beta of 0.71.

Calumet (NASDAQ:CLMT) last released its quarterly earnings data 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 business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.12 billion. Calumet’s revenue for the quarter was up 40.8% compared to the same quarter last year. During the same period last year, the business posted ($1.70) earnings per share. Analysts expect that Calumet, Inc. will post 0.46 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Group Heritage sold 626,998 shares of the stock in a transaction that occurred 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 transaction, the insider owned 12,980,211 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the director owned 77,718 shares in the company, valued at $2,810,282.88. The trade was a 5.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Calumet

Several institutional investors have recently made changes to their positions in the company. Two Seas Capital LP bought a new stake in shares of Calumet in the second quarter valued at about $238,442,000. Quantbot Technologies LP bought a new position in Calumet during the 2nd quarter worth about $89,000. Landscape Capital Management L.L.C. bought a new position in Calumet during the 2nd quarter worth about $276,000. one8zero8 LLC purchased a new position in Calumet during the 2nd quarter valued at about $6,700,000. Finally, BlackRock Inc. increased its position in Calumet by 5.1% during 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 period. Hedge funds and other institutional investors own 34.41% of the company’s stock.

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.