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 target of a significant increase in short interest during 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. Approximately 8.7% of the shares of the company are short sold. Based on an average trading volume of 754,900 shares, the short-interest ratio is currently 8.0 days.

Calumet Specialty Products Partners Stock Performance

Shares of NASDAQ CLMT opened at $18.34 on Tuesday. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $25.29. The business has a fifty day moving average of $20.30 and a two-hundred day moving average of $18.87. The stock has a market cap of $1.58 billion, a PE ratio of -6.64 and a beta of 1.88.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $888.36 million. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. Analysts predict that Calumet Specialty Products Partners will post -3.02 earnings per share for the current year.

Insider Transactions at Calumet Specialty Products Partners

In related news, Director Jennifer Straumins sold 37,861 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.42, for a total value of $810,982.62. Following the completion of the sale, the director now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.91% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Calumet Specialty Products Partners

A hedge fund recently raised its stake in Calumet Specialty Products Partners stock. Creative Planning grew 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 SEC. 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 about 0.08% of Calumet Specialty Products Partners worth $1,002,000 as of its most recent filing with the SEC. 34.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CLMT. Wells Fargo & Company lifted their price objective on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. TD Cowen decreased their price target 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. StockNews.com upgraded shares of Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. Finally, HC Wainwright lifted their target price on shares of Calumet Specialty Products Partners from $25.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.75.

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.