GuruFocus - On May 29, 2024, Mark Mcfarland, Director at California Resources Corp (NYSE:CRC), executed a sale of 55,000 shares of the company. The transaction was filed on the same day with the SEC. Following this transaction, the insider now owns 86,939 shares of California Resources Corp.
California Resources Corp is engaged in oil and natural gas exploration and production. The company operates primarily within the state of California, focusing on hydrocarbon exploration as well as the development and production of oil, natural gas, and natural gas liquids.
Over the past year, the insider has sold a total of 235,000 shares and has not made any purchases. This recent sale is part of a broader trend observed over the past year, where there have been more insider sales (2) than buys (1) at California Resources Corp.
On the valuation front, shares of California Resources Corp were trading at $47.82 on the day of the sale. The company has a market cap of $3.23 billion. The price-earnings ratio stands at 13.51, which is above both the industry median of 11.54 and the company's historical median.
The stock's GF Value is estimated at $45.00, leading to a price-to-GF-Value ratio of 1.06, indicating that the stock is Fairly Valued.
The GF Value is calculated considering historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from analysts.
This insider sale might be of interest to investors tracking insider behaviors and company valuation metrics to understand market sentiment and potential future stock movements.
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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