Short Interest in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Grows By 5.2%

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 6,030,000 shares, a growth of 5.2% from the December 31st total of 5,730,000 shares. Approximately 8.7% of the shares of the stock are sold short. Based on an average daily volume of 754,900 shares, the short-interest ratio is presently 8.0 days.

Calumet Specialty Products Partners Trading Down 7.3 %

NASDAQ:CLMT opened at $17.00 on Wednesday. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $25.29. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -6.16 and a beta of 1.88. The company’s 50-day moving average is $20.19 and its two-hundred day moving average is $18.89.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $888.36 million. During the same period in the previous year, the company posted $0.03 earnings per share. Calumet Specialty Products Partners’s revenue was down 4.3% on a year-over-year basis. On average, equities research analysts forecast that Calumet Specialty Products Partners will post -3.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. HC Wainwright raised their target price on shares of Calumet Specialty Products Partners from $25.00 to $33.00 and gave the company a “buy” rating in a report on Monday, January 13th. UBS Group cut shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and cut their target price for the stock from $20.50 to $15.00 in a research report on Tuesday. Wells Fargo & Company increased their price target on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, TD Cowen cut their price objective on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, Calumet Specialty Products Partners currently has an average rating of “Hold” and a consensus target price of $23.60.

Insider Activity at Calumet Specialty Products Partners

In related news, Director Jennifer Straumins sold 37,861 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,184,589 shares of the company’s stock, valued at $25,373,896.38. This trade represents a 3.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.91% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Calumet Specialty Products Partners stock. Creative Planning lifted its stake in shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 46.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,459 shares of the oil and gas company’s stock after acquiring an additional 19,800 shares during the period. Creative Planning owned 0.08% of Calumet Specialty Products Partners worth $1,002,000 as of its most recent SEC filing. 34.41% of the stock is currently owned by institutional investors.

Calumet Specialty Products Partners Company Profile

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.