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Shares of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) were the target of a large drop in short interest in May. As of May 30th, there was short interest totalling 1,187,435 shares, a drop of 21.3% from the May 15th total of 1,507,874 shares, Analyst RN reports. Currently, 2.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 346,455 shares, the days-to-cover ratio is currently 3.4 days.

Several analysts have recently commented on the stock. Analysts at Howard Weil raised their price target on shares of Calumet Specialty Products Partners, L.P from $33.00 to $35.00 in a research note on Tuesday. They now have a “sector outperform” rating on the stock. Separately, analysts at Wells Fargo & Co. initiated coverage on shares of Calumet Specialty Products Partners, L.P in a research note on Thursday, May 29th. They set a “market perform” rating on the stock. Finally, analysts at Ladenburg Thalmann initiated coverage on shares of Calumet Specialty Products Partners, L.P in a research note on Friday, May 16th. They set a “buy” rating and a $36.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $32.52.

Shares of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) opened at 31.19 on Friday. Calumet Specialty Products Partners, L.P has a 1-year low of $24.23 and a 1-year high of $36.91. The stock’s 50-day moving average is $30.78 and its 200-day moving average is $28.03. The company’s market cap is $2.162 billion.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.09 by $0.41. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.23 billion. Analysts expect that Calumet Specialty Products Partners, L.P will post $1.24 EPS for the current fiscal year.

Calumet Specialty Products Partners, L.P., is a producer of specialty hydrocarbon products in North America.

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