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

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 5,150,000 shares, a decline of 5.5% from the October 31st total of 5,450,000 shares. Based on an average trading volume of 848,700 shares, the short-interest ratio is currently 6.1 days. Currently, 7.5% of the shares of the company are sold short.

Insiders Place Their Bets

In related news, Director Jennifer Straumins sold 100,000 shares of Calumet Specialty Products Partners stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $20.59, for a total value of $2,059,000.00. Following the completion of the transaction, the director now directly owns 1,388,529 shares in the company, valued at approximately $28,589,812.11. The trade was a 6.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.91% of the company's stock.

Institutional Trading of Calumet Specialty Products Partners

A number of large investors have recently made changes to their positions in the stock. Sapient Capital LLC boosted its position in Calumet Specialty Products Partners by 9.5% in the second quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company's stock worth $185,000 after purchasing an additional 1,000 shares during the last quarter. FAS Wealth Partners Inc. boosted its holdings in shares of Calumet Specialty Products Partners by 4.5% in the second quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company's stock worth $869,000 after buying an additional 2,308 shares during the last quarter. Founders Financial Alliance LLC grew its position 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 period. ARS Investment Partners LLC increased its holdings in Calumet Specialty Products Partners by 16.7% during the second quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company's stock valued at $506,000 after buying an additional 4,500 shares during the last quarter. Finally, Wedbush Securities Inc. bought a new position in Calumet Specialty Products Partners in the second quarter worth approximately $169,000. 34.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Calumet Specialty Products Partners to a "sell" rating in a report on Monday, November 18th. HC Wainwright restated a "buy" rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, November 11th. TD Cowen reduced their target price on Calumet Specialty Products Partners from $27.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, November 11th. Wells Fargo & Company upped their price objective on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group decreased their price objective on Calumet Specialty Products Partners from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.75.

Calumet Specialty Products Partners Stock Down 2.6 %

Shares of CLMT traded down $0.59 during trading hours on Tuesday, reaching $21.92. 982,119 shares of the company traded hands, compared to its average volume of 407,609. Calumet Specialty Products Partners has a 12 month low of $9.97 and a 12 month high of $25.29. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -8.00 and a beta of 1.91. The company's fifty day moving average price is $20.59 and its two-hundred day moving average price is $17.60.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last announced 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 firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $888.36 million. During the same quarter in the previous year, the business posted $0.03 EPS. The company's quarterly revenue was down 4.3% on a year-over-year basis. On average, analysts expect that Calumet Specialty Products Partners will post -2.87 EPS for the current 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.