Calumet Specialty Products

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One stock in the energy complex that insiders have been active in is Calumet Specialty Products ( CLMT), a producer of specialty hydrocarbon products in North America. This stock has been trending down a bit in 2011, with shares off by around 10%.

Calumet, one of the highest-yielding energy stocks, has a market cap of $756.99 million and an enterprise value of $1.60 billion. The stock trades at a reasonable valuation its trailing price-to-earnings is 29.28, and its forward price-to-earnings is 7.27. Its estimated growth rate for this year is 58.7%, and for next year it's pegged at 138.4%. This is far from a cash-rich company, with a total cash position of $2.59 million and total debt of $643.04 million.

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The chairman of the board and director just bought 50,000 shares, or $937,000 worth of stock, at $18.74 per share. The president also just bought 16,000 shares, or $302,400 worth of stock, at $18.90 per share.

From a technical standpoint, this stock is currently trading above its 50-day moving average and below its 200-day moving average, which is neutral trendwise. This stock was hammered lower from its July highs of $22.81 to a recent low of $15.57. After hitting that low, the stock rebounded back towards its current price of $19 a share.

If you're bullish on this stock, I would look to buy once it clears its 200-day moving average of $19.76 on heavy volume. Look for volume to register close to or above its three-month average action of 537,955 shares. I would then add to any long position once it clears some more overhead resistance at $20.23 a share. In the near-term, I expect this stock to consolidate some of the recent gains since the relative strength index is flashing a 71 which indicates an overbought condition.

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