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

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) saw a large growth in short interest during the month of 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 trading volume of 718,200 shares, the days-to-cover ratio is currently 8.0 days. Currently, 8.3% of the shares of the stock are short sold.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, November 11th. TD Cowen decreased their target price on shares of 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. Finally, Wells Fargo & Company lifted their price objective 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. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

Insider Buying and Selling at Calumet Specialty Products Partners

In other 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 transaction of $810,982.62. Following the completion of the sale, 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 legal filing with the SEC, which is available through this link. 2.91% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Wedbush Securities Inc. bought a new position in Calumet Specialty Products Partners during the second quarter valued at about $169,000. Founders Financial Alliance LLC raised its stake in shares of Calumet Specialty Products Partners by 8.4% in 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. DRW Securities LLC bought a new position in Calumet Specialty Products Partners in the second quarter worth $898,000. Creative Planning boosted 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 buying an additional 19,800 shares in the last quarter. Finally, Wasserstein Debt Opportunities Management L.P. increased its holdings in 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 buying an additional 193,063 shares during the period. Institutional investors and hedge funds own 34.41% of the company’s stock.

Calumet Specialty Products Partners Stock Performance

Shares of Calumet Specialty Products Partners stock traded up $0.11 during trading on Thursday, reaching $22.13. The company’s stock had a trading volume of 74,042 shares, compared to its average volume of 431,145. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -8.02 and a beta of 1.91. The business’s fifty day moving average price is $21.28 and its 200-day moving average price is $18.41. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $25.29.

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