Short Interest in Calumet Specialty Products Partners, L.P (CLMT) Decreases By 24.3%

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 436,255 shares, a decrease of 24.3% from the November 15th total of 576,075 shares. Based on an average daily volume of 259,596 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.7% of the company’s stock are short sold.

Several equities analysts have recently issued reports on CLMT shares. Zacks Investment Research raised Calumet Specialty Products Partners, L.P from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a report on Tuesday, December 12th. Cowen reaffirmed a “hold” rating and issued a $5.00 target price on shares of Calumet Specialty Products Partners, L.P in a report on Tuesday, October 17th. Wells Fargo & Company upped their target price on Calumet Specialty Products Partners, L.P from $7.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, September 29th. They noted that the move was a valuation call. Janney Montgomery Scott lowered Calumet Specialty Products Partners, L.P from a “buy” rating to a “neutral” rating and upped their target price for the company from $8.50 to $9.00 in a report on Tuesday, September 5th. Finally, ValuEngine raised Calumet Specialty Products Partners, L.P from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $6.29.

Several hedge funds have recently added to or reduced their stakes in the company. Investment Centers of America Inc. grew its holdings in shares of Calumet Specialty Products Partners, L.P by 1.2% in the second quarter. Investment Centers of America Inc. now owns 23,984 shares of the oil and gas company’s stock valued at $103,000 after acquiring an additional 292 shares in the last quarter. Virtu KCG Holdings LLC grew its holdings in shares of Calumet Specialty Products Partners, L.P by 6.6% in the second quarter. Virtu KCG Holdings LLC now owns 47,580 shares of the oil and gas company’s stock valued at $202,000 after acquiring an additional 2,931 shares in the last quarter. Jane Street Group LLC bought a new position in Calumet Specialty Products Partners, L.P during the third quarter valued at $145,000. Wells Fargo & Company MN grew its holdings in Calumet Specialty Products Partners, L.P by 3.8% during the second quarter. Wells Fargo & Company MN now owns 479,323 shares of the oil and gas company’s stock valued at $2,037,000 after purchasing an additional 17,573 shares during the period. Finally, Westwood Holdings Group Inc. bought a new position in Calumet Specialty Products Partners, L.P during the second quarter valued at $110,000. 13.86% of the stock is owned by institutional investors.

Calumet Specialty Products Partners, L.P (NASDAQ CLMT) opened at $7.80 on Tuesday. The company has a debt-to-equity ratio of 9.55, a quick ratio of 0.59 and a current ratio of 1.36. Calumet Specialty Products Partners, L.P has a twelve month low of $3.40 and a twelve month high of $9.95.

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About Calumet Specialty Products Partners, L.P

Calumet Specialty Products Partners, L.P. is a producer of specialty hydrocarbon products in North America. The Company operates through three segments: specialty products, fuel products and oilfield services. In its specialty products segment, the Company processes crude oil and other feedstocks into a range of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes.

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