GuruFocus - On May 24, 2024, Mark Mcfarland, Director of California Resources Corp (NYSE:CRC), executed a significant transaction by selling 180,000 shares of the company. The sale was documented in a recent SEC Filing. Following this transaction, the insider now owns 141,939 shares of California Resources Corp.
California Resources Corp is engaged in the exploration and production of oil and natural gas within the state of California. The company focuses on applying advanced technologies to increase production from its world-class oil and natural gas assets.
According to the transaction details, the shares were sold at a price of $47.09 each. This sale has adjusted the insider's stake in the company significantly.
Over the past year, the insider transaction history for California Resources Corp shows a balanced activity with 1 insider buy and 1 insider sell. Mark Mcfarland's recent sale marks a notable shift, as it is one of the significant insider sales recorded this year.
The shares of California Resources Corp were trading at $47.09 on the day of the sale, giving the company a market cap of approximately $3.24 billion. The price-earnings ratio of the company stands at 13.53, which is above the industry median of 11.445.
Considering the GF Value of $44.36, the stock is currently Fairly Valued with a price-to-GF-Value ratio of 1.06. The GF Value is a proprietary measure used to determine the fair value of a stock based on historical trading multiples, an adjustment factor based on past performance, and future business expectations.
The insider trends for California Resources Corp suggest cautious trading activity, with limited buying and selling among insiders, which could reflect their collective outlook on the company's valuation and future prospects.
This insider sale could provide investors with insights into the current sentiment within the company's leadership regarding its stock price and future direction.
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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