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

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

Wall Street Analyst Weigh In

CLMT has been the subject of a number of recent research reports. HC Wainwright lifted their target price on Calumet Specialty Products Partners from $25.00 to $33.00 and gave the company a “buy” rating in a report on Monday, January 13th. TD Cowen cut their price target on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Wells Fargo & Company raised their price target on 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. Finally, StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, Calumet Specialty Products Partners has an average rating of “Moderate Buy” and an average target price of $25.75.

Insider Activity at Calumet Specialty Products Partners

In related news, Director Jennifer Straumins sold 37,861 shares of Calumet Specialty Products Partners 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 completion of the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. 2.91% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Calumet Specialty Products Partners

An institutional investor recently raised its position in Calumet Specialty Products Partners stock. Creative Planning raised its holdings in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 46.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,459 shares of the oil and gas company’s stock after purchasing an additional 19,800 shares during the quarter. Creative Planning owned 0.08% of Calumet Specialty Products Partners worth $1,002,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Calumet Specialty Products Partners Stock Performance

CLMT opened at $17.71 on Monday. The business’s 50-day simple moving average is $20.38 and its 200-day simple moving average is $18.84. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $25.29. The stock has a market capitalization of $1.52 billion, a P/E ratio of -6.42 and a beta of 1.90.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its 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 during the quarter, compared to analyst estimates of $888.36 million. During the same quarter in the prior year, the business earned $0.03 EPS. The business’s quarterly 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 EPS for the current fiscal year.

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.