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 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. Based on an average daily volume of 754,900 shares, the days-to-cover ratio is presently 8.0 days. Approximately 8.7% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several research firms have commented on CLMT. HC Wainwright lifted their price target on Calumet Specialty Products Partners from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. StockNews.com upgraded shares of Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. UBS Group downgraded shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and reduced their price target for the company from $20.50 to $15.00 in a research report on Tuesday. Wells Fargo & Company raised their price objective on shares of 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. Finally, TD Cowen dropped their price objective on shares of 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. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, 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 other news, Director Jennifer Straumins sold 100,000 shares of Calumet Specialty Products Partners stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $20.59, for a total transaction of $2,059,000.00. Following the sale, the director now owns 1,388,529 shares in the company, valued at approximately $28,589,812.11. The trade was a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.91% of the stock is currently owned by corporate 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 lifted its holdings in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 46.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,459 shares of the oil and gas company’s stock after buying 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 SEC filing. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Calumet Specialty Products Partners Price Performance

NASDAQ:CLMT opened at $17.00 on Wednesday. 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 firm’s fifty day moving average price is $20.19 and its 200 day moving average price is $18.89. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share for the quarter, missing the consensus estimate 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. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 earnings per share. As a group, analysts expect that Calumet Specialty Products Partners will post -3.02 earnings per share 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.