Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Short Interest Update

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 5,260,000 shares, an increase of 80.1% from the September 15th total of 2,920,000 shares. Approximately 7.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 780,000 shares, the days-to-cover ratio is presently 6.7 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Raymond James & Associates grew its holdings in shares of Calumet Specialty Products Partners by 13.4% during the 2nd quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock valued at $9,182,000 after acquiring an additional 67,689 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Calumet Specialty Products Partners in the first quarter valued at about $493,000. Wasserstein Debt Opportunities Management L.P. increased 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 worth $110,606,000 after purchasing an additional 193,063 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Calumet Specialty Products Partners during the 4th quarter worth about $116,000. Finally, J.W. Cole Advisors Inc. lifted its holdings in shares of Calumet Specialty Products Partners by 4.3% during the 1st quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock valued at $306,000 after buying an additional 850 shares during the last quarter. Institutional investors and hedge funds own 34.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. TD Cowen cut their price objective on Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, August 12th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, October 7th. The Goldman Sachs Group dropped their price target on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, StockNews.com started coverage on shares of Calumet Specialty Products Partners in a research note on Monday, October 7th. They set a “hold” rating for the company. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

Calumet Specialty Products Partners Trading Up 2.2 %

Shares of CLMT stock opened at $20.67 on Monday. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -295.29 and a beta of 1.92. Calumet Specialty Products Partners has a 1-year low of $9.97 and a 1-year high of $21.19. The stock’s fifty day simple moving average is $17.37 and its 200-day simple moving average is $16.14.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $889.17 million. The company’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.19) EPS. On average, sell-side analysts predict that Calumet Specialty Products Partners will post -1.97 EPS for the current year.

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.