Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) Short Interest Down 12.6% in September

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 435,500 shares, a decrease of 12.6% from the August 30th total of 498,200 shares. Based on an average trading volume of 177,300 shares, the short-interest ratio is presently 2.5 days. Approximately 0.7% of the company’s shares are short sold.

A number of equities analysts have commented on the stock. ValuEngine upgraded shares of Calumet Specialty Products Partners, L.P from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Calumet Specialty Products Partners, L.P from a “hold” rating to a “strong-buy” rating and set a $4.00 target price on the stock in a research note on Tuesday, October 8th. Finally, BidaskClub upgraded shares of Calumet Specialty Products Partners, L.P from a “strong sell” rating to a “sell” rating in a research note on Wednesday.

CLMT stock traded down $0.28 during mid-day trading on Wednesday, reaching $3.40. The company had a trading volume of 14,008 shares, compared to its average volume of 157,181. The company has a debt-to-equity ratio of 28.38, a current ratio of 1.23 and a quick ratio of 0.75. The company has a market capitalization of $267.55 million, a PE ratio of 11.30 and a beta of 1.82. The firm has a 50 day moving average of $3.89 and a 200 day moving average of $4.08. Calumet Specialty Products Partners, L.P has a 12 month low of $1.99 and a 12 month high of $5.96.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last issued its earnings results on Thursday, August 8th. The oil and gas company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.17. Calumet Specialty Products Partners, L.P had a net margin of 0.05% and a return on equity of 90.99%. The business had revenue of $896.90 million for the quarter, compared to the consensus estimate of $763.05 million. Analysts anticipate that Calumet Specialty Products Partners, L.P will post 0.13 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fiera Capital Corp boosted its stake in shares of Calumet Specialty Products Partners, L.P by 19.9% during the second quarter. Fiera Capital Corp now owns 26,262 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 4,363 shares in the last quarter. Bank of Montreal Can purchased a new stake in Calumet Specialty Products Partners, L.P during the second quarter valued at approximately $32,000. Acadian Asset Management LLC purchased a new stake in Calumet Specialty Products Partners, L.P during the second quarter valued at approximately $61,000. Meristem Family Wealth LLC purchased a new stake in Calumet Specialty Products Partners, L.P during the second quarter valued at approximately $92,000. Finally, GSA Capital Partners LLP lifted its position in Calumet Specialty Products Partners, L.P by 24.6% during the second quarter. GSA Capital Partners LLP now owns 115,611 shares of the oil and gas company’s stock valued at $484,000 after acquiring an additional 22,793 shares during the last quarter. Hedge funds and other institutional investors own 14.11% of the company’s stock.

About Calumet Specialty Products Partners, L.P

Calumet Specialty Products Partners, L.P. produces and sells specialty hydrocarbon products in North America and internationally. It operates in two segments, Specialty Products and Fuel Products. The Specialty Products segment offers various lubricating oils, white mineral oils, solvents, petrolatums, waxes, synthetic lubricants, and other products which are used primarily as raw material components for basic automotive, industrial, and consumer goods.

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