GuruFocus - On August 13, 2024, Christian Kendall, Director at California Resources Corp (NYSE:CRC), purchased 20,895 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now directly owns 24,600 shares of the company.
California Resources Corp is engaged in hydrocarbon exploration in the state of California. It is the largest oil and natural gas exploration and production company in the state.
The shares were bought at a price of $47.97 each, valuing the transaction at approximately $1,002,299.65. This acquisition has increased the insider's stake in the company significantly.
Over the past year, the insider has purchased a total of 20,895 shares and has not sold any shares. The company's insider transaction history shows a balanced activity, with 2 insider buys and 2 insider sells over the past year.
As of the transaction date, California Resources Corp had a market cap of approximately $4.33 billion. The stock's price-earnings ratio stood at 21.24, which is above both the industry median of 10.98 and the companys historical median.
The stock is considered Fairly Valued according to the GuruFocus Value, with a price-to-GF-Value ratio of 1.07. The GF Value of $44.77 is slightly below the current trading price, suggesting a fair valuation of the stock based on historical trading multiples, an adjustment factor from GuruFocus, and future business performance estimates.
This insider buying activity could be a signal to investors about the insiders confidence in the future prospects of California Resources Corp.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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