Calumet Arm Gets $1.44B Federal Loan for Renewable Fuels Push

Zacks10-18

Calumet, Inc. CLMT stock has gained almost 3% since the company made an announcement on Oct.16 that the U.S. Department of Energy (DOE) had awarded its subsidiary, Montana Renewables, a $1.44 billion ...

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Additionally, the fund will allow the company to expand its present production capacity of 140 million gallons to 350 million gallons per year.Investors interested in the energy sector might look at some better-ranked stocks like LandBridge Company LLCLB, Nine Energy Service, Inc.NINE and MPLX LPMPLX.While LandBridge Company currently sports a Zacks Rank #1 , Nine Energy and MPLX each carries a Zacks Rank #2 . You can see the complete list of today’s Zacks #1 Rank stocks here.Nine Energy Service, Inc. provides onshore completion and production services for unconventional oil and gas","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4144":"石油与天然气的储存和运输","BK4138":"石油与天然气的炼制和营销","BK4141":"半导体产品","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","CLMT":"卡路美","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","IE00BMPRXQ63.HKD":"NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND \"A\" (HKDHDG) ACC","BK4179":"石油天然气设备与服务","BK4585":"ETF&股票定投概念","BK4213":"石油与天然气的勘探与生产","BK4233":"房地产运营公司","BK4588":"碎股","MPLX":"MPLX LP","NINE":"Nine Energy Service Inc.","LB":"LandBridge Co. 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Additionally, the fund will allow the company to expand its present production capacity of 140 million gallons to 350 million gallons per year.\nBenefits of the Company’s Fuel Facility Expansion\nThe expansion project will bring several benefits. An economic study suggested that the project will generate employment in the local region, help generate revenues and enhance infrastructure development.\nThe company’s MaxSAF plan aligns with the United States’ national interest to reduce carbon emissions and adopt sustainable alternatives; therefore, this project will directly replace fossil jets and diesel in the aviation industry and produce more renewable fuels for sustainable development.\nFuture Projections\nThe loan is distributed in two parts, whereby the first part of $778 million is expected to close in Q4 2024 and the balance amount to be disbursed from the beginning of construction in 2025 till completion in 2028. The company expects to execute the project through a series of individual projects, like a second renewable fuel reactor, increased hydrogen production and other site enhancements.\nThe loan is based on a conditional commitment framework. It is supposed to havea tenure of 15 years and will be accompanied by an interest rate. The company will also be required to make an equity investment of $150 million at the initial closing.\nCLMT’s Zacks Rank and Key Picks\nIndianapolis-based Calumet manufactures, formulates and markets a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. Currently, CLMT has a Zacks Rank #4 (Sell).\nInvestors interested in the energy sector might look at some better-ranked stocks like LandBridge Company LLC LB, Nine Energy Service, Inc. NINE and MPLX LP MPLX.While LandBridge Company currently sports a Zacks Rank #1 (Strong Buy), Nine Energy and MPLX each carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.\nHeadquartered in Houston, TX, LandBridge owns and manages land and resources to support and enhance oil and natural gas development in the United States. Over the past 60 days, the Zacks Consensus Estimate for LB's 2024 earnings has improved by 4.16%.\nNine Energy Service, Inc. provides onshore completion and production services for unconventional oil and gas resource development. NINE’s expected EPS (earnings per share) growth rate for the current quarter is 23.08%, which compares favorably with the industry's growth rate of 6.36%.\nMPLX LP is a master limited partnership, providing a wide range of midstream energy services, including fuel distribution solutions. MPLX’s expected EPS growth rate for three to five years is currently 8.50%, which compares favorably with the industry's growth rate of 5.70%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nCalumet, Inc. (CLMT) : Free Stock Analysis Report\nMPLX LP (MPLX) : Free Stock Analysis Report\nLandBridge Company LLC (LB) : Free Stock Analysis Report\nNine Energy Service, Inc. (NINE) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Policy And Regulatory","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2476219287"}