Core Viewpoint - Calumet, Inc. announced that Jennifer Straumins will not seek re-election to the Board of Directors and will retire at the end of her current term, which concludes at the 2026 Annual Meeting of Stockholders [1]. Group 1: Board Member Information - Jennifer Straumins has been a member of the Board since July 2024 and previously served on the board of Calumet GP, LLC from February 2021 to July 2024 [2]. - She has a total of 13 years of experience as an employee of the Partnership [2]. Group 2: Contributions and Acknowledgments - The Chair of the Board, Steve Mawer, expressed gratitude for Straumins' dedicated commitment and valuable contributions to the Board [3]. - CEO Todd Borgmann highlighted her impact on Calumet and the importance of her leadership and support in executing the company's growth strategy [3]. - Straumins reflected on her experiences and expressed gratitude towards her colleagues and the support from investors and banking partners [3]. Group 3: Board Composition and Governance - The Board, with the help of its Nominating and Governance Committee, will continue to assess Board composition and skills to ensure alignment with the company's strategy and governance best practices [4]. Group 4: Company Overview - Calumet, Inc. manufactures, formulates, and markets a diverse range of specialty branded products and renewable fuels for various consumer-facing and industrial markets [5]. - The company is headquartered in Indianapolis, Indiana, and operates twelve facilities across North America [5].

Core Insights - Comstock Inc. has transitioned from a junior mining opportunity to a leading metals recovery company, achieving significant milestones in solar recycling and critical metals recovery [2][4] - The company has established two high-growth businesses: a Nevada-based metals recovery operation and an Oklahoma-based renewable fuels company, both with strategic partnerships [2][4] Financial Highlights - Comstock completed an oversubscribed equity financing of $57.5 million, netting $53.0 million after expenses, enhancing its capital base for growth [7] - The company eliminated all debt obligations, resulting in a strong financial position for further growth and monetization of non-core assets [7] - Cash and cash equivalents were reported at $17.0 million as of December 31, 2025, increasing to $56.1 million by March 20, 2026 [7] Operational Achievements - Comstock has received all necessary permits for its first industry-scale facility, with operations expected to commence in the second quarter of 2026 [5][9] - The company is the only certified R2v3/RIOS Responsible Recycling Standard by SERI for solar panel recycling, ensuring a zero-landfill process [8][9] - The first facility is designed to recycle up to 3.3 million panels annually, with commissioning activities underway [19] Strategic Developments - The company has expanded its board with three experienced independent directors, reflecting strong support from major shareholders [7][4] - Comstock is actively pursuing additional site selections for future industry-scale facilities and storage sites [20][26] - Bioleum Corporation, a spin-off focused on renewable fuels, has secured significant investments and is advancing its production capabilities [15][16] Market Outlook - The company aims to set the global standard for solar panel recycling and to commercialize technologies for renewable fuels from waste and energy crops [17][18] - Comstock's mining assets are well-positioned for monetization, with ongoing discussions with sophisticated mining companies [11][23] - The company plans to expand its national footprint in solar panel recycling and enhance its refining capabilities for higher-purity metals [29][20]

Mark Romaine, Chief Operating Officer of Global Partners LP (GLP 3.81%), reported the direct sale of 15,611 common units across multiple transactions between March 16 and March 18, 2026, as disclosed in a SEC Form 4 filing. Transaction summaryMetricValueUnits sold (direct)15,611Transaction value~$740,000Post-transaction units (direct)146,874Post-transaction value (direct ownership)~$7.04 millionTransaction value based on SEC Form 4 weighted average purchase price ($47.38); post-transaction value is based on ...

Core Insights - Suncor Energy Inc. is recognized as one of the best oil and gas dividend stocks to buy currently [1][6] Company Overview - Suncor Energy Inc. is a Canadian integrated energy company involved in extracting, producing, and providing energy from various sources, including oil sands and renewable fuels [2] Stock Performance and Analyst Ratings - On March 2, CIBC raised its price target for Suncor from C$70 to C$88, maintaining an 'Outperformer' rating, indicating an upside potential of over 12% from the current share price [2] Financial Performance - Suncor reported better-than-expected Q4 2025 results, with upstream production increasing by nearly 4% year-over-year to 909,000 barrels per day and refining throughput rising by 3.7% year-over-year to 504,000 barrels per day [3] - The company announced a share repurchase target of C$3.3 billion for 2026, with plans to return 100% of excess funds to shareholders [3] Dividend Yield - Suncor offers a robust annual dividend yield of 3.07%, positioning it among the best crude oil stocks for dividends [4]

Core Insights - Alto Ingredients, Inc. reported significant financial improvements in Q4 2025, with gross profit reaching $15.2 million, net income of $21.5 million, and adjusted EBITDA of $27.9 million, all showing substantial increases compared to Q4 2024 [2][4][8]. Financial Performance - For Q4 2025, net sales were $232.0 million, a slight decrease from $236.3 million in Q4 2024. However, the cost of goods sold decreased from $237.7 million to $216.8 million, leading to a gross profit turnaround from a loss of $1.4 million to a profit of $15.2 million [8][22]. - The net income attributable to common stockholders improved from a loss of $42.0 million in Q4 2024 to a profit of $21.5 million in Q4 2025, translating to earnings of $0.28 per diluted share [8][22]. - For the full year 2025, net sales totaled $917.9 million, down from $965.3 million in 2024, while gross profit increased from $9.7 million to $34.9 million [8][22]. Strategic Initiatives - The CEO highlighted a strategic realignment in 2025, focusing on addressing losses at underperforming assets, reducing structural costs, and repositioning towards higher-value revenue streams [3][4]. - The company plans to enhance production capabilities, increase renewable fuel exports, and leverage demand for liquid CO2, while maintaining strong cost discipline [4][3]. Cash and Liquidity - As of December 31, 2025, cash and cash equivalents were $23.4 million, down from $35.5 million a year earlier. The company had borrowing availability of $102 million [7][17]. Segment Performance - The Pekin Campus reported alcohol sales of $105.1 million in Q4 2025, up from $100.2 million in Q4 2024, while essential ingredient sales also increased [22]. - The marketing and distribution segment saw a significant rise in alcohol sales from $37.3 million in Q4 2024 to $55.4 million in Q4 2025 [22]. Market Metrics - The average sales price per gallon for the Pekin Campus increased from $1.89 in Q4 2024 to $2.09 in Q4 2025, reflecting improved pricing strategies [24]. - Total renewable fuel gallons sold decreased from 73.4 million in Q4 2024 to 63.1 million in Q4 2025, indicating a need for strategic adjustments in production [24].

Group 1 - Kinder Morgan, Inc. (NYSE: KMI) is currently considered one of the best spring stocks to buy, with Goldman Sachs reaffirming its Buy rating and setting a price target of $32 based on the company's fourth-quarter 2025 results and 2026 forecast [1][6] - The company reported fourth-quarter results that exceeded Goldman Sachs' and consensus projections by 2% and 3%, respectively, primarily due to improved performance in its Gas segment EBITDA [1] - Kinder Morgan has added $900 million in new projects, mainly in the gas sector, increasing its post-FID project backlog to $10 billion, alongside a pre-FID backlog that has also surpassed $10 billion [2] Group 2 - Kinder Morgan, Inc. operates as an energy infrastructure company, focusing on the transportation and storage of energy products through a comprehensive network of pipelines and terminals [3] - The company's operations include moving natural gas, gasoline, crude oil, and other products, as well as storing and handling various commodities such as chemicals and renewable fuels [3] - Goldman Sachs views Kinder Morgan as a top investment choice due to the increasing demand for natural gas, citing both thematic opportunity and valuation [2]

Core Insights - Crossroads Capital LLC reported a 2.7% net return in Q4 2025, with an annual return of 37.7% net, and a compounded rate of 21.2% gross and 17.1% net since inception [1] - The fund's overall non-delta adjusted gross and net exposure were 89.7% and 72.1% respectively by the end of December 2025 [1] - Market sentiment shifted rapidly in Q4 2025 due to concerns over the AI bubble, Federal Reserve uncertainty, and bearish positioning, highlighting market volatility [1] - The firm remains cautiously optimistic about market breadth and interest in small-cap stocks carrying into 2026 [1] Company-Specific Insights - Calumet, Inc. (NASDAQ:CLMT) is highlighted as a specialty products and renewable fuels manufacturer, with a market capitalization of $2.34 billion [2] - Calumet, Inc. stock closed at $26.96 on February 27, 2026, with a one-month return of 18.61% and a 52-week gain of 100.30% [2] - Crossroads Capital sold its position in Calumet, Inc. due to a disastrous DOE loan announcement and an ATM offering that undermined confidence in management [3] - Calumet, Inc. was held by 17 hedge fund portfolios at the end of Q4, down from 18 in the previous quarter, indicating a slight decrease in popularity among hedge funds [4] - The firm believes that certain AI stocks present greater upside potential compared to Calumet, Inc., despite acknowledging its investment potential [4]

Core Viewpoint - Chevron's stock is experiencing significant growth, gaining 21.6% year-to-date, driven by rising oil prices and investor preference for less AI-vulnerable sectors like oil and gas [1] Group 1: Stock Performance - Chevron's stock is currently priced around $185 per share, nearing the $200 milestone, but some investors express concerns about the rapid price increase [2] - The energy sector is thriving, with Chevron's stock performance reflecting broader trends in oil prices and market sentiment [1] Group 2: Growth and Investment Strategy - Chevron is actively investing in low-carbon projects, including hydrogen, carbon capture and storage, and renewable fuels, to diversify its portfolio, although most earnings still come from upstream oil and gas [3] - The company has reduced production costs through technological advancements, lowering its break-even level for dividends and capital expenditures to $50 per barrel of Brent crude oil [4] Group 3: Financial Performance - In 2025, Chevron paid $12.8 billion in dividends, spent $17.3 billion on capital expenditures, and generated $16.5 billion in free cash flow, supporting its dividend program despite low oil prices [5] - Chevron's net-debt-to-cash flow from operations ratio was 1 at the end of 2025, indicating that cash flow from operations equaled net debt, even after acquiring Hess [6] Group 4: Production and Future Prospects - Chevron's production increased from 3.34 million barrels of oil equivalent per day in 2024 to 3.72 million in 2025, bolstered by the acquisition of Hess and developments in Guyana and Venezuela [7] - The company is negotiating for a stake in a significant oilfield in Iraq, although these international ventures carry higher risks compared to domestic operations [7]

Global Partners LP Q4 and FY 2025 Investor Presentation Forward - Looking Statements Certain statements and information in this presentation may constitute "forward-looking statements." The words "believe," "expect," "anticipate," "plan," "intend," "foresee," "should," "would," "could" or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature, although not all forward-looking statements contain such identifying words. These forward-looking ...

Core Viewpoint - Calumet, Inc. reported its fourth quarter and fiscal year 2025 results, highlighting significant financial improvements, including a reduction in debt and strong cash flow driven by cost reduction initiatives, while facing challenges in the renewable diesel market. Financial Performance - The company reported a net loss of $33.8 million for fiscal year 2025, an improvement from a net loss of $222 million in 2024 [1] - Adjusted EBITDA for fiscal year 2025 was $293.3 million, up from $229.3 million in 2024, reflecting nearly 30% year-over-year growth [1] - For the fourth quarter of 2025, the company reported a net loss of $37.3 million, compared to a net loss of $40.7 million in the same quarter of 2024 [1] Segment Performance - Specialty Products and Solutions (SPS) segment achieved an Adjusted EBITDA of $88.5 million in Q4 2025, up from $51.9 million in Q4 2024, driven by strong specialty product sales and cost reductions [1] - Performance Brands (PB) segment reported Adjusted EBITDA of $5.4 million in Q4 2025, down from $16.3 million in Q4 2024, impacted by the divestiture of the Royal Purple® Industrial business [1] - Montana/Renewables (MR) segment reported an Adjusted EBITDA with Tax Attributes of $(5.4) million in Q4 2025, compared to $12.4 million in Q4 2024, affected by low industry renewable diesel margins [1] Operational Highlights - The company achieved approximately $100 million in cost reductions in 2025, which contributed to a $222 million reduction in recourse debt [1] - Total sales volume for the fourth quarter of 2025 was 95,829 barrels per day, compared to 85,882 barrels per day in Q4 2024 [2] - The company is on track to complete the MaxSAF®150 expansion in the second quarter of 2026, enhancing its competitive position in the renewable diesel market [1] Corporate Developments - In January 2026, Calumet closed a private placement of $405 million in Senior Notes due 2031, which was used to redeem outstanding higher-interest debt [1] - The company amended its asset-based loan facility to extend the maturity date to January 2031, with total commitments of $500 million [1]