Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Short Interest Up 7.0% in October

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 5,630,000 shares, an increase of 7.0% from the September 30th total of 5,260,000 shares. Approximately 8.2% of the company’s stock are sold short. Based on an average trading volume of 858,100 shares, the short-interest ratio is currently 6.6 days.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Deuterium Capital Management LLC bought a new stake in Calumet Specialty Products Partners in the first quarter valued at approximately $159,000. Wedbush Securities Inc. bought a new stake in Calumet Specialty Products Partners in the 2nd quarter valued at $169,000. Sapient Capital LLC lifted its holdings in Calumet Specialty Products Partners by 9.5% during the 2nd quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock valued at $185,000 after purchasing an additional 1,000 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in Calumet Specialty Products Partners by 4.3% during the first quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock worth $306,000 after purchasing an additional 850 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of Calumet Specialty Products Partners in the first quarter valued at $493,000. Institutional investors own 34.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CLMT. TD Cowen upped their target price on shares of Calumet Specialty Products Partners from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. The Goldman Sachs Group decreased their price objective on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, August 5th. Wells Fargo & Company upped their price target on 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 issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Thursday, October 17th. Finally, StockNews.com started coverage on shares of Calumet Specialty Products Partners in a research report on Wednesday, October 23rd. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Calumet Specialty Products Partners Trading Down 1.6 %

Shares of Calumet Specialty Products Partners stock traded down $0.34 on Friday, reaching $20.99. 390,603 shares of the company were exchanged, compared to its average volume of 374,560. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $25.29. The company has a 50-day moving average of $19.05 and a 200 day moving average of $16.68. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -66.66 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $889.17 million. The business’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.19) EPS. Analysts predict that Calumet Specialty Products Partners will post -2.17 earnings per share for the current year.

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.