Clean Energy Fuels (CLNE)
Supplies renewable natural gas and station services for medium- and heavy-duty fleets.
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Supplies RNG and conventional natural gas as CNG and LNG for medium- and heavy-duty vehicles, with revenue from fuel sales, station construction, O&M services, and environmental credits. The network is concentrated in the U.S. and shaped by diesel competition, biogas access, and credit-market rules.
Supplies renewable natural gas and conventional natural gas as CNG and LNG for medium- and heavy-duty vehicles. Revenue comes from vehicle fuel, environmental credits tied to RNG use, O&M services for public and private fleet stations, station construction, and compressor-related equipment sales and service.
Operates a North American fueling footprint concentrated in the United States, with an especially large California presence and additional stations in Canada. The network serves public and private fleet customers that need vehicle fuel and station services.
Executes through station operations, fuel procurement, and dairy and livestock-waste RNG projects. The business is shaped by diesel as the main incumbent fuel, competition for biogas supply, fragmented RNG production markets, and volatile environmental-credit programs.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 18, 2026 | Raymond James | Reiterate | Rating: —Target: $5 | Target: $2.50 |
| Aug 14, 2026 | Jefferies | Reiterate | Rating: —Target: — | Target: $1.90 |
| Jul 17, 2026 | UBS | Downgrade | Target: $2 | Target: $2.75 |
| Aug 8, 2025 | Jefferies | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $140.2M · Total debt $320.7M · Total assets $1.03B · Shareholders' equity $553.3M
- Revenue
- $106.4M
- Operating income
- −$5.1M
- Net income
- −$14.9M
No dividends on record.
| Institutions | 49.96% | 110.13M shares | |
|---|---|---|---|
| 196 holders · as of Jun 30, 2026 | |||
| Insiders | 2.00% | 4.40M shares | |
| 7 holders · as of Jun 25, 2026 | |||
| Other | 48.04% | 105.91M shares | |
| remainder | |||
220.45M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Stonepeak CLNE-W Holdings LPInstitution | 9.10% | 20.05M | filed Oct 15, 2025 |
BlackRock, Inc.Institution | 6.81% | 15.01M | as of Jun 30, 2026 |
Grantham, Mayo, van Otterloo & Co. LLCInstitution | 4.96% | 10.94M | as of Jun 30, 2026 |
Global Alpha Capital Management Ltd.Institution | 4.32% | 9.52M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.34% | 7.37M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 10, 2026 | Barclay Corbus | director, officer: PRESIDENT AND CEO | +25,000 | $1.62 |
| Jun 25, 2026 | Stephen Scully | director | +25,000 | $1.75 |
| Jun 23, 2026 | Barclay Corbus | director, officer: PRESIDENT AND CEO | +14,000 | $1.77 |
| May 18, 2026 | Andrew J. Littlefair | director | −165,000 | $2.05 |
- OPAL
Direct RNG fuel and station-services peer for heavy-duty fleets
- Chevron
CNG/RNG station network and renewable-fuels scale
- BP (ADR)
Large RNG producer and downstream fuels company via Archaea
- WM
Landfill RNG owner and major alternative-fuel refuse fleet
- Valero Energy
Diesel and renewable-diesel scale competitor to RNG fleets
- Montauk Renewables
Pure-play landfill biogas-to-RNG producer
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Clean Energy Fuels | $1.66 | −1.49% | $370.0M | — | — | 0.8 | +3.7% |
| OPAL | $1.81 | −7.91% | $55.4M | — | 1.9 | 0.2 | +7.4% |
| Chevron | $205.55 | +1.54% | $403.16B | 19.4 | 12.8 | 1.9 | +57.9% |
| BP (ADR) | $44.13 | +2.39% | $113.03B | 21.5 | 7.8 | 0.5 | +46.5% |
| WM | $208.00 | +0.15% | $83.01B | 29.4 | 24.4 | 3.2 | +4.0% |
| Valero Energy | $375.54 | −0.42% | $108.59B | 15.6 | 7.6 | 0.8 | +48.8% |
| Montauk Renewables | $2.35 | −9.81% | $370.1M | 46.9 | 17.2 | 2.0 | +19.7% |
| Median | 21.5 | 10.3 | 1.4 | +33.1% |