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

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

Institutional Investors Weigh In On Calumet Specialty Products Partners

Several hedge funds and other institutional investors have recently made changes to their positions in CLMT. Wasserstein Debt Opportunities Management L.P. bought a new stake in shares of Calumet Specialty Products Partners during the 4th quarter valued at $119,698,000. Raymond James & Associates increased its position in Calumet Specialty Products Partners by 13.4% in the second quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after buying an additional 67,689 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Calumet Specialty Products Partners in the first quarter worth about $493,000. ICA Group Wealth Management LLC bought a new position in shares of Calumet Specialty Products Partners in the fourth quarter worth about $116,000. Finally, J.W. Cole Advisors Inc. lifted its position 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 in the last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Calumet Specialty Products Partners Trading Up 3.0 %

Shares of CLMT opened at $17.52 on Monday. The firm 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 1-year low of $9.97 and a 1-year high of $21.19. The firm has a fifty day simple moving average of $16.05 and a two-hundred day simple moving average of $15.78.

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

Wall Street Analyst Weigh In

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

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.