Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Short Interest Up 6.7% in December

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) was the target of a large growth in short interest in 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. Currently, 8.3% of the company’s stock are sold short. Based on an average daily trading volume, of 718,200 shares, the short-interest ratio is presently 8.0 days.

Insider Activity

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 value of $810,982.62. Following the completion of the sale, the director now 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.91% of the company’s stock.

Institutional Trading of Calumet Specialty Products Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLMT. Founders Financial Alliance LLC raised its holdings in shares of Calumet Specialty Products Partners by 8.4% in the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock valued at $777,000 after buying an additional 3,750 shares during the period. Creative Planning boosted its stake in shares of Calumet Specialty Products Partners by 46.4% in the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock valued at $1,002,000 after purchasing an additional 19,800 shares during the period. DRW Securities LLC acquired a new position in shares of Calumet Specialty Products Partners in the second quarter valued at approximately $898,000. Wedbush Securities Inc. acquired a new stake in Calumet Specialty Products Partners during the 2nd quarter worth approximately $169,000. Finally, Wasserstein Debt Opportunities Management L.P. boosted its position 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. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Calumet Specialty Products Partners Trading Down 1.0 %

CLMT stock traded down $0.21 during trading on Thursday, reaching $21.81. 51,670 shares of the stock were exchanged, compared to its average volume of 431,145. The business has a 50 day moving average price of $21.28 and a 200-day moving average price of $18.41. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -7.90 and a beta of 1.91. 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 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $888.36 million. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. On average, research analysts anticipate that Calumet Specialty Products Partners will post -2.87 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CLMT shares. TD Cowen lowered their price target on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a report on Monday, November 11th. Wells Fargo & Company boosted their target price 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. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, November 11th. Finally, StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.75.

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.