Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Sees Large Increase in Short Interest

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 5,730,000 shares, a growth of 6.7% from the November 30th total of 5,370,000 shares. Based on an average daily volume of 718,200 shares, the short-interest ratio is presently 8.0 days. Approximately 8.3% of the company’s stock are short sold.

Calumet Specialty Products Partners Price Performance

Shares of CLMT stock traded down $0.09 during trading on Thursday, reaching $21.93. The company had a trading volume of 11,227 shares, compared to its average volume of 431,145. The firm’s 50 day simple moving average is $21.28 and its two-hundred day simple moving average is $18.41. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $25.29. The company has a market capitalization of $1.88 billion, a PE ratio of -7.95 and a beta of 1.91.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released 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 firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $888.36 million. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the company posted $0.03 earnings per share. Analysts forecast that Calumet Specialty Products Partners will post -2.87 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the firm’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 sale, the director now directly owns 1,184,589 shares in the company, valued at approximately $25,373,896.38. This trade represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.91% of the company’s stock.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Founders Financial Alliance LLC boosted its holdings in Calumet Specialty Products Partners by 8.4% during the second quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock valued at $777,000 after purchasing an additional 3,750 shares in the last quarter. Wedbush Securities Inc. bought a new stake in Calumet Specialty Products Partners in the second quarter valued at $169,000. Creative Planning raised its stake in Calumet Specialty Products Partners by 46.4% during 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. DRW Securities LLC bought a new position in shares of Calumet Specialty Products Partners during the second quarter valued at $898,000. Finally, Wasserstein Debt Opportunities Management L.P. boosted its stake in shares of Calumet Specialty Products Partners by 2.9% in 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 Company Profile

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.