Analysts Lift Calumet Price Target After EPA Exemptions and Stable Margin Outlook

AN

AnalystConsensusTarget

AnalystConsensusTarget

Not Invested

Based on Analyst Price Targets

Published

28 May 25

Updated

03 Dec 25

Views

75

n/a

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AnalystConsensusTarget's Fair Value

n/a

1Y

-9.3%

7D

-1.0%

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1Y

-9.3%

7D

-1.0%

You can edit this narrative until Dec 4 5:10 PM. Then, changes will post as Updates.

Author's Valuation

US$21.458.6% undervalued

AnalystConsensusTarget Fair Value

Shared on 03 Dec 25

CLMT: Future Profit Margins Will Improve While Shares Remain Fairly Valued

Analysts have nudged their price target on Calumet shares higher to reflect modestly improved discount rate and valuation assumptions, and now see fair value as essentially unchanged near 21.45 dollars despite slightly more favorable risk and earnings profiles. What's in the News Reported third quarter 2025 total facility production of 88,668 bpd, up from 83,305 bpd in the prior year period (company operating results announcement).

Shared on 19 Nov 25

Fair value Increased 5.93%

CLMT: Future Profit Margins Will Improve With Lower RIN Liabilities

Analysts have raised their price target for Calumet from $20.25 to $21.45, citing improved revenue growth projections and greater profit margin expectations as key drivers behind the updated valuation. What's in the News Calumet reported a rise in total facility production to 88,668 barrels per day for the third quarter of 2025, up from 83,305 barrels per day during the same period last year (Announcement of Operating Results).

Shared on 05 Nov 25

Fair value Increased 5.19%

CLMT: Future Outlook Balances EPA Exemptions With Reduced RIN Liabilities

Analysts have raised their price target for Calumet from $19.25 to $20.25, citing improved margin expectations and a lower perceived discount rate, even though growth forecasts have been slightly reduced. What's in the News Calumet received an update from the EPA confirming that all of its small refinery exemption petitions filed from 2019 through 2024 have been granted either full or partial exemptions (Key Developments).

Shared on 22 Oct 25

Fair value Increased 1.05%

Narrative Update on Calumet: Analyst Price Target Revision Analysts have slightly raised their fair value estimate for Calumet from $19.05 to $19.25 per share, citing minor improvements in discount rate assumptions and a stable outlook for profit margins. What's in the News Calumet received full or partial exemptions from the U.S. Environmental Protection Agency (EPA) for every small refinery exemption petition filed between 2019 and 2024.

Shared on 08 Oct 25

Analysts have maintained their price target for Calumet at $19.05. They cite only minor adjustments to discount rate and valuation assumptions that do not materially alter their outlook for the company.

Shared on 24 Sep 25

Calumet’s valuation outlook remains stable, with both the discount rate and future P/E changing only marginally, resulting in an unchanged consensus price target of $19.05. What's in the News Calumet received full or partial EPA exemptions on all small refinery petitions from 2019–2024, reducing its accrued RIN liability from 396 million to 89 million RINs. The company was added to multiple Russell indexes, including Russell 2000, 2500, 3000, and their respective growth and value variants, increasing its visibility to index funds and institutional investors.

Shared on 09 Sep 25

Calumet’s valuation outlook remains steady, with both the discount rate and future P/E experiencing only marginal adjustments, resulting in the consensus analyst price target holding firm at $19.05. What's in the News EPA granted Calumet full or partial exemptions on all small refinery petitions from 2019–2024, reducing RIN liability from 396 million to 89 million RINs. Calumet was added to numerous Russell indexes, including Russell 2000, 2500, 3000, and related growth/value/small cap completeness benchmarks, increasing its visibility to institutional investors.

Shared on 25 Aug 25

Despite a notable increase in consensus revenue growth forecasts for Calumet, a decline in net profit margin offset the improvement, resulting in an unchanged analyst price target of $19.05. What's in the News Calumet added to multiple Russell indices, including the Russell 2000, 2500, and 3000, as well as corresponding Growth and Value subsets.

Shared on 10 Aug 25

Fair value Increased 1.33%

Despite materially improving revenue growth and net profit margin forecasts, Calumet’s consensus analyst price target remains unchanged at $18.80. What's in the News Calumet, Inc.

Shared on 01 Aug 25

Fair value Decreased 1.05%

Calumet’s fair value estimate was marginally reduced as analysts now expect markedly slower revenue growth and a higher future P/E, signaling a more cautious outlook on earnings growth. What's in the News Calumet, Inc.

AnalystConsensusTarget Fair Value

US$21.45

8.6% undervalued

Future estimation in

Growth p.a.

Growth p.a.

%

Decrease

Increase

Current revenue growth rate

7.46%

Oil and Gas revenue growth rate

1.14%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

%

0

Decrease

Increase

Current discount rate

8.11%

Calculation

US$86.98m

Earnings '28

x

27.50x

PE Ratio '28

=

US$2.39b

Market Cap '28

US$2.39b

Market Cap '28

/

88.42m

No. shares '28

=

US$27.05

Share Price '28

US$27.05 Share Price '28

Discounted to 2025 @ 8.21% p.a.

=

US$21.35

Fair Value '25