Calumet Closes $150 Million Senior Notes Offering
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 17 2026
0mins
Should l Buy CLMT?
Source: PRnewswire
- Offering Overview: Calumet, Inc. successfully closed a $150 million private placement of 9.75% Senior Notes due 2031, issued at 105% of par, resulting in net proceeds of approximately $154.9 million, reflecting the company's strong performance in capital markets.
- Clear Use of Proceeds: The net proceeds from this offering will be used to repay outstanding borrowings under its revolving credit facility, enhancing the company's financial flexibility and ensuring stable cash flow in a volatile and highly profitable commodity environment.
- Ongoing Expansion Plans: CFO David Lunin emphasized that the company will continue to focus on generating strong cash flow in a favorable margin environment while advancing the MaxSAF® 150 expansion at Montana Renewables, indicating confidence in future growth.
- Strong Market Adaptability: This bond issuance builds on the earlier successful issuance of $405 million in existing notes, demonstrating Calumet's strategic flexibility in navigating market volatility and leveraging additional liquidity effectively.
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Analyst Views on CLMT
Wall Street analysts forecast CLMT stock price to fall
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 32.060
Low
19.00
Averages
23.67
High
28.00
Current: 32.060
Low
19.00
Averages
23.67
High
28.00
About CLMT
Calumet, Inc. manufactures, formulates and markets a diversified slate of specialty branded products and renewable fuels to customers across a range of consumer-facing and industrial markets. Its segments include Specialty Products and Solutions; Performance Brands; Montana/Renewables, and Corporate. Specialty Products and Solutions segment manufactures and markets a variety of solvents, waxes, customized lubricating oils, white oils, petrolatum, gels, esters, and other products. Performance Brands segment blend, package and market high performance products through its Royal Purple, Bel-Ray, and TruFuel brands. Montana/Renewables segment comprises two facilities: renewable fuels and specialty asphalt. At its Montana Renewables facility, it processes a variety of geographically advantaged renewable feedstocks into renewable diesel, sustainable aviation fuel, renewable hydrogen, renewable natural gas, renewable propane, and renewable naphtha that are distributed into renewables markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Surge in Oil Prices Amid Rising Geopolitical Tensions in the Middle East
- Oil Price Surge: Brent crude prices have surged to historic highs due to rising geopolitical tensions in the Middle East, leading to a 9.3% increase in stocks like Calumet (CLMT), reflecting strong market confidence in energy stocks.
- Strong Market Reaction: The threats against Iranian oil wells have boosted investor confidence in the potential revenue and profitability of the energy sector, despite ongoing geopolitical risks, indicating a robust response to oil price fluctuations.
- Calumet's Strong Performance: Calumet's stock has risen 80% since the beginning of the year, reaching a new 52-week high at $35.18, suggesting optimistic market expectations for its future growth and profitability.
- Emerging Investment Opportunities: The volatility in oil prices has created buying opportunities for high-quality stocks, particularly for companies like HighPeak Energy (HPK) and Riley Exploration Permian (REPX), which saw increases of 7.2% and 3%, respectively.
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Analyst Bullish on Calumet Stock Outlook
- Analyst Price Target Increase: H.C. Wainwright's analyst Amit Dayal raised Calumet's price target from $33 to $60, reflecting optimism about the company's renewable fuels business benefiting from energy market volatility, potentially driving an upside of over 87%.
- Stock Price Surge: Following the analyst's new rating, Calumet's stock rose 10.9% today, continuing a rise of more than 14% last week, indicating strong market confidence in its future performance.
- Financial Health Improvement: Calumet's cost-reduction initiative in 2025 significantly boosted cash from operations, rising to $108.9 million from a negative $6.4 million in 2024, showcasing a substantial improvement in financial health that enhances investor confidence.
- Positive Market Response: In addition to H.C. Wainwright, TD Cowen and Goldman Sachs have also raised their price targets to $25 and $34 respectively, reflecting an overall optimistic sentiment in the market towards Calumet, further solidifying its investment value as a materials stock.
See More
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- Price Target Increase: H.C. Wainwright raised Calumet's price target from $33 to $60, based on optimistic expectations for its renewable fuels business, implying an upside of over 87%, reflecting analysts' confidence in the company's future performance.
- Cash Flow Improvement: Calumet is expected to see a significant improvement in operating cash flow in 2025, projected to reach $108.9 million compared to a negative $6.4 million in 2024, indicating substantial progress in cost control and enhancing its financial health.
- Strong Stock Performance: Calumet's stock rose 10.9% today, continuing a trend of over 14% increase last week, driven by bullish analyst ratings, reflecting strong market confidence in its growth potential.
- Market Optimism: In addition to H.C. Wainwright, TD Cowen and Goldman Sachs have also raised their price targets for Calumet to $25 and $34 respectively, indicating a broader market optimism that may attract more investor interest.
See More
Calumet Board Member Announces Retirement
- Board Member Retirement: Calumet, Inc. announced that Board member Jennifer Straumins will retire at the end of her term during the 2026 Annual Meeting, indicating a shift in the company's governance structure.
- Acknowledgment of Contributions: Board Chair Steve Mawer and CEO Todd Borgmann expressed gratitude for Straumins' contributions, highlighting her expertise in strategy and growth as crucial for the company's development, reflecting the company's emphasis on talent.
- Ongoing Governance Evaluation: The Board will continue to assess the composition and skills of its members to ensure alignment with the company's strategy and governance best practices, indicating a commitment to future governance structure.
- Company Background: Calumet, Inc. focuses on manufacturing and marketing a diversified slate of specialty branded products and renewable fuels, operating 12 facilities across North America, showcasing its broad industry impact.
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- High Strike Price Focus: Notably, the $160 strike call option for GLW has seen significant activity, with 4,390 contracts traded today, representing around 439,000 underlying shares, reflecting a strong bullish sentiment among investors at this price level.
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- Event Participation: Calumet, Inc. plans to attend the H.C. Wainwright Renewables Fuels Virtual Day on March 25, showcasing its strategic positioning in the renewable energy sector to attract investor interest in its sustainability potential.
- Investor Meetings: Throughout the event, Calumet will hold virtual one-on-one investor meetings, providing opportunities for direct engagement with management, thereby enhancing investor confidence in the company's future growth prospects.
- Company Overview: Headquartered in Indianapolis, Calumet, Inc. specializes in manufacturing, formulating, and marketing a diversified slate of specialty branded products and renewable fuels, serving a broad range of consumer-facing and industrial markets, demonstrating its competitive edge in the industry.
- Facility Network: With twelve facilities operating across North America, Calumet ensures robust production and distribution capabilities, supporting the company's ongoing growth and expansion in the renewable energy market.
See More
Surge in Oil Prices Amid Rising Geopolitical Tensions in the Middle East
- Oil Price Surge: Brent crude prices have surged to historic highs due to rising geopolitical tensions in the Middle East, leading to a 9.3% increase in stocks like Calumet (CLMT), reflecting strong market confidence in energy stocks.
- Strong Market Reaction: The threats against Iranian oil wells have boosted investor confidence in the potential revenue and profitability of the energy sector, despite ongoing geopolitical risks, indicating a robust response to oil price fluctuations.
- Calumet's Strong Performance: Calumet's stock has risen 80% since the beginning of the year, reaching a new 52-week high at $35.18, suggesting optimistic market expectations for its future growth and profitability.
- Emerging Investment Opportunities: The volatility in oil prices has created buying opportunities for high-quality stocks, particularly for companies like HighPeak Energy (HPK) and Riley Exploration Permian (REPX), which saw increases of 7.2% and 3%, respectively.
See More
Analyst Bullish on Calumet Stock Outlook
- Analyst Price Target Increase: H.C. Wainwright's analyst Amit Dayal raised Calumet's price target from $33 to $60, reflecting optimism about the company's renewable fuels business benefiting from energy market volatility, potentially driving an upside of over 87%.
- Stock Price Surge: Following the analyst's new rating, Calumet's stock rose 10.9% today, continuing a rise of more than 14% last week, indicating strong market confidence in its future performance.
- Financial Health Improvement: Calumet's cost-reduction initiative in 2025 significantly boosted cash from operations, rising to $108.9 million from a negative $6.4 million in 2024, showcasing a substantial improvement in financial health that enhances investor confidence.
- Positive Market Response: In addition to H.C. Wainwright, TD Cowen and Goldman Sachs have also raised their price targets to $25 and $34 respectively, reflecting an overall optimistic sentiment in the market towards Calumet, further solidifying its investment value as a materials stock.
See More
H.C. Wainwright Raises Calumet Price Target
- Price Target Increase: H.C. Wainwright raised Calumet's price target from $33 to $60, based on optimistic expectations for its renewable fuels business, implying an upside of over 87%, reflecting analysts' confidence in the company's future performance.
- Cash Flow Improvement: Calumet is expected to see a significant improvement in operating cash flow in 2025, projected to reach $108.9 million compared to a negative $6.4 million in 2024, indicating substantial progress in cost control and enhancing its financial health.
- Strong Stock Performance: Calumet's stock rose 10.9% today, continuing a trend of over 14% increase last week, driven by bullish analyst ratings, reflecting strong market confidence in its growth potential.
- Market Optimism: In addition to H.C. Wainwright, TD Cowen and Goldman Sachs have also raised their price targets for Calumet to $25 and $34 respectively, indicating a broader market optimism that may attract more investor interest.
See More
Calumet Board Member Announces Retirement
- Board Member Retirement: Calumet, Inc. announced that Board member Jennifer Straumins will retire at the end of her term during the 2026 Annual Meeting, indicating a shift in the company's governance structure.
- Acknowledgment of Contributions: Board Chair Steve Mawer and CEO Todd Borgmann expressed gratitude for Straumins' contributions, highlighting her expertise in strategy and growth as crucial for the company's development, reflecting the company's emphasis on talent.
- Ongoing Governance Evaluation: The Board will continue to assess the composition and skills of its members to ensure alignment with the company's strategy and governance best practices, indicating a commitment to future governance structure.
- Company Background: Calumet, Inc. focuses on manufacturing and marketing a diversified slate of specialty branded products and renewable fuels, operating 12 facilities across North America, showcasing its broad industry impact.
See More
Corning Inc Sees Surge in Options Trading Volume
- Surge in Options Volume: Corning Inc (GLW) experienced an options trading volume of 68,851 contracts today, equating to approximately 6.9 million shares, which represents about 48.6% of its average daily trading volume of 14.2 million shares over the past month, indicating strong market interest in its future performance.
- High Strike Price Focus: Notably, the $160 strike call option for GLW has seen significant activity, with 4,390 contracts traded today, representing around 439,000 underlying shares, reflecting a strong bullish sentiment among investors at this price level.
- Applied Optoelectronics Options Activity: Concurrently, Applied Optoelectronics Inc (AAOI) has recorded an options trading volume of 62,819 contracts today, translating to approximately 6.3 million shares, which is about 47.7% of its average daily trading volume of 13.2 million shares over the past month, indicating investor interest in this company as well.
- AAOI Strike Price Trading: For AAOI, the $115 strike call option has also shown robust activity, with 5,018 contracts traded today, representing approximately 501,800 underlying shares, suggesting a positive outlook from the market regarding its future trajectory.
See More
Calumet, Inc. to Attend H.C. Wainwright Renewables Fuels Virtual Day
- Event Participation: Calumet, Inc. plans to attend the H.C. Wainwright Renewables Fuels Virtual Day on March 25, showcasing its strategic positioning in the renewable energy sector to attract investor interest in its sustainability potential.
- Investor Meetings: Throughout the event, Calumet will hold virtual one-on-one investor meetings, providing opportunities for direct engagement with management, thereby enhancing investor confidence in the company's future growth prospects.
- Company Overview: Headquartered in Indianapolis, Calumet, Inc. specializes in manufacturing, formulating, and marketing a diversified slate of specialty branded products and renewable fuels, serving a broad range of consumer-facing and industrial markets, demonstrating its competitive edge in the industry.
- Facility Network: With twelve facilities operating across North America, Calumet ensures robust production and distribution capabilities, supporting the company's ongoing growth and expansion in the renewable energy market.
See More
