Short Interest in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Increases By 7.0%

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) saw a significant increase in short interest in October. As of October 15th, there was short interest totalling 5,630,000 shares, an increase of 7.0% from the September 30th total of 5,260,000 shares. Currently, 8.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 858,100 shares, the short-interest ratio is currently 6.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Founders Financial Alliance LLC increased its stake in Calumet Specialty Products Partners by 8.4% in 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 purchasing an additional 3,750 shares in the last quarter. Creative Planning raised its stake in Calumet Specialty Products Partners by 46.4% during the 2nd quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after buying an additional 19,800 shares during the period. DRW Securities LLC bought a new position in Calumet Specialty Products Partners during the second quarter worth about $898,000. Wedbush Securities Inc. acquired a new position in Calumet Specialty Products Partners in the second quarter valued at about $169,000. Finally, Wasserstein Debt Opportunities Management L.P. increased its holdings in shares of Calumet Specialty Products Partners by 2.9% in the second 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 acquiring an additional 193,063 shares in the last quarter. Institutional investors own 34.41% of the company’s stock.

Calumet Specialty Products Partners Stock Down 1.6 %

NASDAQ CLMT traded down $0.34 during trading hours on Friday, hitting $20.99. The company’s stock had a trading volume of 390,603 shares, compared to its average volume of 374,560. The stock has a fifty day moving average of $19.05 and a 200 day moving average of $16.68. Calumet Specialty Products Partners has a twelve month low of $9.97 and a twelve month high of $25.29. The firm has a market capitalization of $1.80 billion, a P/E ratio of -66.66 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released 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 company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $889.17 million. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.19) EPS. On average, analysts predict that Calumet Specialty Products Partners will post -2.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. StockNews.com assumed coverage on Calumet Specialty Products Partners in a research note on Wednesday, October 23rd. They issued a “sell” rating on the stock. The Goldman Sachs Group lowered their price objective on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Wells Fargo & Company upped 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. TD Cowen raised their price target on shares of Calumet Specialty Products Partners from $22.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Calumet Specialty Products Partners has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

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.