Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Short Interest Up 6.7% in December

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 5,730,000 shares, a growth of 6.7% from the November 30th total of 5,370,000 shares. Based on an average trading volume of 718,200 shares, the days-to-cover ratio is currently 8.0 days. Currently, 8.3% of the company's stock are sold short.

Insider Activity at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the firm's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total value of $810,982.62. Following the transaction, the director now directly owns 1,184,589 shares of the company's stock, valued at $25,373,896.38. This trade represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.91% of the company's stock.

Institutional Investors Weigh In On Calumet Specialty Products Partners

A number of institutional investors have recently modified their holdings of the stock. Founders Financial Alliance LLC increased its holdings 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 buying an additional 3,750 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in shares of Calumet Specialty Products Partners during the 2nd quarter valued at approximately $169,000. Creative Planning lifted its stake in Calumet Specialty Products Partners by 46.4% during the second 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 acquired a new position in Calumet Specialty Products Partners in the second quarter worth $898,000. Finally, Wasserstein Debt Opportunities Management L.P. increased its stake in Calumet Specialty Products Partners by 2.9% during the second 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. Institutional investors and hedge funds own 34.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CLMT. StockNews.com upgraded Calumet Specialty Products Partners to a "sell" rating in a report on Monday, November 18th. TD Cowen dropped their price objective on shares of 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. HC Wainwright reissued a "buy" rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, November 11th. Finally, Wells Fargo & Company raised their price target on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an "overweight" rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, Calumet Specialty Products Partners has a consensus rating of "Moderate Buy" and a consensus price target of $23.75.

Calumet Specialty Products Partners Trading Down 1.0 %

CLMT stock traded down $0.23 during midday trading on Thursday, hitting $21.79. 551,178 shares of the company's stock were exchanged, compared to its average volume of 431,145. The firm has a 50 day moving average price of $21.28 and a 200-day moving average price of $18.41. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $25.29. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -7.89 and a beta of 1.91.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.59) by ($0.59). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $888.36 million. During the same period in the previous year, the business posted $0.03 EPS. The company's revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts forecast that Calumet Specialty Products Partners will post -2.87 EPS 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.