Sifting through countless of stocks in the Oil, Gas & Consumable Fuels industry can be tedious, and sometimes two stocks are just too similar to judge which is the better investment. If you’re on the fence about investing in Calumet, Inc. or Baytex Energy Corp. because you’re not sure how they measure up, it’s important to compare them on a few factors before making your decision.

Read on to learn how Calumet, Inc. and Baytex Energy Corp. compare based on key financial metrics to determine which better meets your investment needs.

About Calumet, Inc. and Baytex Energy Corp.

Calumet, Inc. manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Montana/Renewables; and Performance Brands segments. The Specialty Products and Solutions segment offers various solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products. Its Montana/Renewables segment focuses on processing renewable feedstocks into renewable diesel, sustainable aviation fuel, renewable hydrogen, renewable natural gas, renewable propane, and renewable naphtha. This segment also processes Canadian crude oil into conventional gasoline, diesel, jet fuel, and specialty grades of asphalt. The Performance Brands segment blends, packages, and markets high performance products through Royal Purple, Bel-Ray, and TruFuel brands. It serves wholesale distributors and retail chains. Calumet, Inc. was founded in 1919 and is headquartered in Indianapolis, Indiana.

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. It offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. The company also holds interest in the Eagle Ford property in Texas; Viking and Lloydminster properties in Alberta and Saskatchewan; and Peace River and Duvernay properties in Alberta. Baytex Energy Corp. was incorporated in 1993 and is headquartered in Calgary, Canada.

Latest Oil, Gas & Consumable Fuels and Calumet, Inc., Baytex Energy Corp. Stock News

As of February 11, 2026, Calumet, Inc. had a $2.2 billion market capitalization, compared to the Oil, Gas & Consumable Fuels median of $2.2 million. Calumet, Inc.’s stock is up 29.3% in 2026, up 4.8% in the previous five trading days and up 58.97% in the past year.

Currently, Calumet, Inc. does not have a price-earnings ratio. Calumet, Inc.’s trailing 12-month revenue is $4.0 billion with a -0.9% net profit margin. Year-over-year quarterly sales growth most recently was -2.0%. There are no analysts providing consensus earnings estimates for the current fiscal year. Calumet, Inc. does not currently pay a dividend.

As of February 11, 2026, Baytex Energy Corp. had a $2.8 billion market cap, putting it in the 60th percentile of all stocks. Baytex Energy Corp.’s stock is up 12.1% in 2026, up 2.5% in the previous five trading days and up 41.41% in the past year.

Currently, Baytex Energy Corp.’s price-earnings ratio is 18.5. Baytex Energy Corp.’s trailing 12-month revenue is $2.2 billion with a 7.0% net profit margin. Year-over-year quarterly sales growth most recently was -14.9%. Analysts expect adjusted earnings to reach $0.066 per share for the current fiscal year. Baytex Energy Corp. currently has a 2.5% dividend yield.

How We Compare Calumet, Inc. and Baytex Energy Corp. Stock Grades

Stock evaluation requires access to huge amounts of data and the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movements. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors streamline and work through such data.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A‐F grades for each of five key investing factors: value, growth, momentum, earnings estimate revisions and quality. Here, we’ll take a closer look at Calumet, Inc. and Baytex Energy Corp.’s stock grades to see how they measure up against one another.

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Calumet, Inc. and Baytex Energy Corp. Growth Grades

Company	Ticker	Growth
Calumet, Inc.	CLMT	D
Baytex Energy Corp.	BTE	A

The foundation of growth investing is seeking out stocks of companies exhibiting strong, consistent and prolonged growth that is expected to continue into the future.

In order to compute the growth score and assign it a letter grade, the percentile ranks for each of three components‐consistency of annual sales growth, five-year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations‐must be determined. These three rank figures are added together, and the sum is ranked against the entire stock universe to arrive at a company’s Growth Score to create an equal distribution of grades.

The companies in the bottom 20% of the stock universe receive Growth Grades of F, considered to be very weak, while those in the top 20% receive A grades, which are considered very strong.

Calumet, Inc. has a Growth Score of 26, which is Weak. Baytex Energy Corp. has a Growth Score of 87, which is Very Strong.

The Growth Grade Winner: Baytex Energy Corp.

As you can clearly see from the Growth Grade breakdown above, Baytex Energy Corp. has a more attractive growth grade than Calumet, Inc.. For investors who focus solely on how a company is growing relative to other companies in the same industry, Baytex Energy Corp. could be a good stock to add to their portfolio. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Calumet, Inc. and Baytex Energy Corp.’s Quality Grades

Company	Ticker	Quality
Calumet, Inc.	CLMT	D
Baytex Energy Corp.	BTE	B

Like the Value Grade, AAII’s A+ Investor Quality Grade comes from the percentile rank of key metrics. Specifically, the Quality Score is the percentile rank of the average of the percentile ranks of return on assets (ROA), return on invested capital (ROIC), gross profit relative to assets, buyback yield, change in total liabilities to assets, accruals, Z double prime bankruptcy risk (Z) score and the F-Score.

The score is variable, meaning it can consider all eight measures or, should any of the eight measures not be valid, the remaining measures that are valid. To be assigned a Quality Score, stocks must have a valid (non-null) measure and corresponding ranking for at least four of the eight quality measures.

The Quality Score is used to assess the underlying “quality” of a particular stock. A higher-quality stock possesses traits associated with upside potential and reduced downside risk. Backtesting of the Quality Grade shows that stocks with higher grades, on average, outperformed stocks with lower grades over the period of 1998 through 2019.

Stocks receive better grades (higher scores) for having higher scores for the quality subcomponents and worse grades (lower scores) for lower scores for the subcomponents.

Calumet, Inc. has a Quality Score of 28, which is Weak. Baytex Energy Corp. has a Quality Score of 80, which is Strong.

The Quality Grade Winner: Baytex Energy Corp.

As you can clearly see from the Quality Grade breakdown above, Baytex Energy Corp. has a better overall quality grade than Calumet, Inc.. For investors who are looking for companies with higher quality than others in the same industry, Baytex Energy Corp. could be a good stock to add to their portfolios. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Calumet, Inc. and Baytex Energy Corp.’s Momentum Grades

Company	Ticker	Momentum
Calumet, Inc.	CLMT	A
Baytex Energy Corp.	BTE	A

Momentum grades help to uncover stocks experiencing anomalously high rates of return; research finds that stocks with high relative levels of momentum tend to outperform, whereas those with low levels of momentum tend to continue underperforming. Momentum is based on the price change of a stock over a specified period relative to all other stocks.

Typically, AAII looks at the weighted relative strength over the trailing four quarters. The weighted four-quarter relative strength rank is the relative price change for each of the past four quarters. The most recent quarterly price change is given a weight of 40% and each of the three previous quarters are given a weighting of 20%.

Calumet, Inc. has a Momentum Score of 84, which is Very Strong. Baytex Energy Corp. has a Momentum Score of 81, which is Very Strong.

The Momentum Grade Winner: It’s a Tie!

Looking at the Momentum Grade breakdown above, both Calumet, Inc. and Baytex Energy Corp. have a grade of A. For those who focus solely on a company’s momentum, further research will need to be conducted into both companies to see if they fit your individual needs as an investor.

Other Calumet, Inc. and Baytex Energy Corp. Grades

In addition to Momentum, Quality and Growth, A+ Investor also provides grades for Value and Estimate Revisions.

Earnings estimate revisions scores take into account the magnitude of a company’s earnings surprise in its last two reported fiscal quarters. Often, surprises beget further surprises‐or at least continued sales growth (the exact opposite is generally true, too).

Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection. Buying stocks that are going to go up typically means buying stocks that are undervalued in the first place, although momentum investors may argue that point.

These 2 key factors, when combined with the above, provide a holistic view into a particular stock. Further, by joining A+ Investor you can see whether Calumet, Inc. and Baytex Energy Corp. pass any of our 60+ stock screens that have outperformed the market since their creation.

So, Which Is the Better Investment, Calumet, Inc. or Baytex Energy Corp. Stock?

Overall, Calumet, Inc. stock has a Growth Score of 26, Momentum Score of 84 and Quality Score of 28.

Baytex Energy Corp. stock has a Growth Score of 87, Momentum Score of 81 and Quality Score of 80.

Comparing Calumet, Inc. and Baytex Energy Corp.’s grades, scores and metrics can act as a solid basis to determine whether they may be a good investment or not. You’ll also want to look at your portfolio’s asset allocation as well as your risk tolerance and financial goals to see if either of these stocks would make a good fit for you. AAII can help you figure out which investments align with your individual needs and preferences.

Investors are encouraged to do their own due diligence and research. In this way, individuals can effectively become managers of their own assets‐without having to rely on others for financial independence. You can count on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis.

A+ Investor adds to our qualitative teaching with a powerful data suite to help you whittle down investment choices to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

AAII Disclaimer

We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith, and we accept no liability for any errors or omissions. The full disclaimer can be read here.