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

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 292,400 shares, an increase of 5.3% from the October 15th total of 277,700 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average trading volume of 113,800 shares, the days-to-cover ratio is presently 2.6 days.

Analysts Set New Price Targets

A number of research firms have issued reports on CLMT. StockNews.com raised shares of Calumet Specialty Products Partners from a “sell” rating to a “hold” rating in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday, August 7th. TheStreet cut Calumet Specialty Products Partners from a “c-” rating to a “d+” rating in a research note on Tuesday, October 31st. Finally, The Goldman Sachs Group lowered their price target on Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, October 31st. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently bought and sold shares of CLMT. Tower Research Capital LLC TRC lifted its stake in Calumet Specialty Products Partners by 335.3% during the first quarter. Tower Research Capital LLC TRC now owns 1,689 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 1,301 shares during the last quarter. IFP Advisors Inc acquired a new stake in shares of Calumet Specialty Products Partners during the 2nd quarter valued at $32,000. Worth Asset Management LLC bought a new stake in shares of Calumet Specialty Products Partners during the 1st quarter worth $54,000. BNP Paribas Arbitrage SA acquired a new position in shares of Calumet Specialty Products Partners in the 2nd quarter worth $76,000. Finally, Covestor Ltd acquired a new stake in shares of Calumet Specialty Products Partners during the first quarter worth $77,000. 19.96% of the stock is currently owned by institutional investors.

Calumet Specialty Products Partners Trading Up 1.0 %

NASDAQ:CLMT traded up $0.14 during midday trading on Friday, hitting $14.53. 96,886 shares of the stock were exchanged, compared to its average volume of 100,560. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 27.67 and a beta of 1.92. Calumet Specialty Products Partners has a one year low of $11.91 and a one year high of $20.25. The business has a 50-day moving average price of $16.79 and a two-hundred day moving average price of $16.58.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings data on Thursday, November 9th. The oil and gas company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.16. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.03 billion. Calumet Specialty Products Partners had a negative return on equity of 4.22% and a net margin of 1.01%. Sell-side analysts forecast that Calumet Specialty Products Partners will post 0.86 EPS for the current fiscal year.

Calumet Specialty Products Partners Company Profile

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets slate of specialty branded products to various consumer-facing and industrial markets in North America and internationally. Its Specialty Products and Solutions segment offers various solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products.