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

A number of brokerages have recently commented on CLMT. Zacks Investment Research downgraded shares of Calumet Specialty Products Partners, L.P from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Janney Montgomery Scott downgraded shares of Calumet Specialty Products Partners, L.P from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $8.50 to $9.00 in a report on Tuesday, September 5th. Cowen reiterated a “hold” rating and set a $5.00 price target on shares of Calumet Specialty Products Partners, L.P in a report on Tuesday, October 17th. Finally, Wells Fargo & Company lifted their price target on shares of Calumet Specialty Products Partners, L.P from $7.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, September 29th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Calumet Specialty Products Partners, L.P has a consensus rating of “Hold” and an average price target of $6.29.

Hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley grew its holdings in shares of Calumet Specialty Products Partners, L.P by 13.5% during the first quarter. Morgan Stanley now owns 704,438 shares of the oil and gas company’s stock worth $2,677,000 after buying an additional 83,995 shares in the last quarter. Adams Asset Advisors LLC grew its holdings in shares of Calumet Specialty Products Partners, L.P by 16.0% during the third quarter. Adams Asset Advisors LLC now owns 817,980 shares of the oil and gas company’s stock worth $6,830,000 after buying an additional 112,648 shares in the last quarter. Linscomb & Williams Inc. grew its holdings in shares of Calumet Specialty Products Partners, L.P by 49.1% during the second quarter. Linscomb & Williams Inc. now owns 146,364 shares of the oil and gas company’s stock worth $622,000 after buying an additional 48,201 shares in the last quarter. Royal Bank of Canada grew its holdings in Calumet Specialty Products Partners, L.P by 9.2% in the second quarter. Royal Bank of Canada now owns 484,494 shares of the oil and gas company’s stock valued at $2,059,000 after purchasing an additional 40,676 shares during the period. Finally, Barnett & Company Inc. grew its holdings in Calumet Specialty Products Partners, L.P by 53.2% in the third quarter. Barnett & Company Inc. now owns 103,900 shares of the oil and gas company’s stock valued at $868,000 after purchasing an additional 36,100 shares during the period. Institutional investors and hedge funds own 13.80% of the company’s stock.

Shares of Calumet Specialty Products Partners, L.P (CLMT) opened at $7.95 on Thursday. Calumet Specialty Products Partners, L.P has a twelve month low of $3.40 and a twelve month high of $9.95. The company has a debt-to-equity ratio of 9.55, a quick ratio of 0.59 and a current ratio of 1.36.

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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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