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

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 2,920,000 shares, an increase of 24.3% from the August 31st total of 2,350,000 shares. Based on an average trading volume of 706,500 shares, the days-to-cover ratio is currently 4.1 days. Currently, 4.3% of the shares of the stock are sold short.

Institutional Trading of Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently made changes to their positions in CLMT. Founders Financial Alliance LLC raised its stake in Calumet Specialty Products Partners by 8.4% during the second 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 last quarter. Creative Planning raised its position in shares of Calumet Specialty Products Partners by 46.4% in the 2nd quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after purchasing an additional 19,800 shares during the last quarter. DRW Securities LLC bought a new position in Calumet Specialty Products Partners in the 2nd quarter worth about $898,000. Wedbush Securities Inc. purchased a new stake in Calumet Specialty Products Partners during the 2nd quarter valued at about $169,000. Finally, Wasserstein Debt Opportunities Management L.P. grew its position in Calumet Specialty Products Partners by 2.9% during 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 purchasing an additional 193,063 shares during the last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday, August 12th. StockNews.com initiated coverage on Calumet Specialty Products Partners in a research note on Sunday. They issued a “hold” rating for the company. The Goldman Sachs Group decreased their price target on shares of 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, TD Cowen lowered their price objective on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.33.

Calumet Specialty Products Partners Trading Up 3.0 %

Shares of CLMT stock opened at $17.52 on Monday. The company’s fifty day moving average price is $16.05 and its 200-day moving average price is $15.78. The stock has a market cap of $1.41 billion, a PE ratio of -250.29 and a beta of 1.92. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $21.19.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.07. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $889.17 million. During the same quarter last year, the company posted ($0.19) EPS. Calumet Specialty Products Partners’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that Calumet Specialty Products Partners will post -1.94 earnings per share for the current fiscal year.

About Calumet Specialty Products Partners

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.