Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Short Interest Update

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 5,730,000 shares, an increase of 6.7% from the November 30th total of 5,370,000 shares. Based on an average trading volume of 718,200 shares, the short-interest ratio is currently 8.0 days. Currently, 8.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, November 11th. TD Cowen lowered their target price on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Finally, StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Calumet Specialty Products Partners presently has an average rating of “Moderate Buy” and an average target price of $23.75.

Insider Buying and Selling

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total value of $810,982.62. Following the transaction, the director now owns 1,184,589 shares of the company’s stock, valued at approximately $25,373,896.38. The trade was a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.91% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wedbush Securities Inc. acquired a new stake in Calumet Specialty Products Partners in the second quarter valued at $169,000. Founders Financial Alliance LLC boosted its holdings in shares of Calumet Specialty Products Partners by 8.4% during the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock worth $777,000 after buying an additional 3,750 shares in the last quarter. DRW Securities LLC acquired a new stake in Calumet Specialty Products Partners in the second quarter worth $898,000. Creative Planning boosted its holdings in Calumet Specialty Products Partners by 46.4% in the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after acquiring an additional 19,800 shares in the last quarter. Finally, Wasserstein Debt Opportunities Management L.P. increased its stake in Calumet Specialty Products Partners by 2.9% during the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock valued at $110,606,000 after purchasing an additional 193,063 shares in the last quarter. Institutional investors and hedge funds own 34.41% of the company’s stock.

Calumet Specialty Products Partners Trading Down 0.4 %

Shares of NASDAQ:CLMT traded down $0.09 during trading on Thursday, reaching $21.93. 11,227 shares of the stock were exchanged, compared to its average volume of 431,145. The firm has a market cap of $1.88 billion, a PE ratio of -7.95 and a beta of 1.91. The stock has a 50-day moving average price of $21.28 and a 200-day moving average price of $18.41. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $888.36 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, sell-side analysts expect that Calumet Specialty Products Partners will post -2.87 earnings per share for the current fiscal year.

About Calumet Specialty Products Partners

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.