HC Wainwright Has Optimistic Outlook of Calumet Q3 Earnings

Key Points

• HC Wainwright raised Calumet’s Q3 2026 EPS estimate to $0.60 from a projected loss of $0.29, and expects $0.22 EPS in Q4 and $0.12 for full-year 2026.
• Calumet’s latest quarter significantly missed expectations, reporting a $1.09 per-share loss versus the consensus estimate of $0.07 in earnings, despite revenue rising 40.8% year over year to $1.45 billion.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $37.75, while shares opened at $46.04 near their 52-week high.

Calumet, Inc. (NASDAQ:CLMT - Free Report) - Stock analysts at HC Wainwright upped their Q3 2026 EPS estimates for Calumet in a report released on Monday, August 10th. HC Wainwright analyst A. Dayal now anticipates that the oil and gas company will earn $0.60 per share for the quarter, up from their previous estimate of ($0.29). The consensus estimate for Calumet's current full-year earnings is ($0.13) per share. HC Wainwright also issued estimates for Calumet's Q4 2026 earnings at $0.22 EPS and FY2026 earnings at $0.12 EPS.

Other analysts also recently issued research reports about the stock. Citigroup reissued a "buy" rating on shares of Calumet in a research report on Monday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Calumet in a research note on Friday. TD Cowen reissued a "hold" rating on shares of Calumet in a research note on Wednesday, June 3rd. Finally, The Goldman Sachs Group raised their target price on Calumet from $36.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $37.75.

Calumet Stock Performance

Shares of Calumet stock opened at $46.04 on Wednesday. The stock has a market capitalization of $4.01 billion, a PE ratio of -29.70 and a beta of 0.71. Calumet has a 52 week low of $12.94 and a 52 week high of $47.40. The stock has a 50 day moving average price of $38.37 and a two-hundred day moving average price of $33.07.

Calumet (NASDAQ:CLMT - Get Free Report) 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 analysts' consensus estimates of $0.07 by ($1.16). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.12 billion. Calumet's quarterly revenue was up 40.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.70) earnings per share.

Institutional Trading of Calumet

A number of hedge funds have recently bought and sold shares of the business. one8zero8 LLC purchased a new stake in shares of Calumet during the 2nd quarter valued at $6,700,000. BlackRock Inc. boosted its holdings in shares of Calumet by 5.1% in the 2nd quarter. BlackRock Inc. now owns 5,234,106 shares of the oil and gas company's stock worth $188,532,000 after buying an additional 253,578 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Calumet by 27.4% in the 2nd quarter. Deutsche Bank AG now owns 78,712 shares of the oil and gas company's stock worth $2,835,000 after buying an additional 16,910 shares during the last quarter. Covestor Ltd grew its position in Calumet by 61.6% during the second quarter. Covestor Ltd now owns 4,194 shares of the oil and gas company's stock valued at $151,000 after buying an additional 1,598 shares during the period. Finally, Persistent Asset Partners Ltd purchased a new stake in Calumet during the second quarter worth about $253,000. 34.41% of the stock is currently owned by institutional investors.

Insider Transactions at Calumet

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

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