California Resources Corp (NYSE:CRC) Director William B. Roby recently acquired additional company shares, investing over $18,000, according to the latest SEC filings. On May 23, Roby purchased 388.5 shares at a price of $46.965 each, reflecting his continued confidence in the energy firm.
The transaction has increased Roby's total holdings to 51,014.5 shares in the crude petroleum and natural gas company. California Resources Corp, headquartered in Long Beach, CA, is known for its operations in the energy and transportation sector. The purchase by a director is often seen as a positive signal to investors, suggesting that company insiders may view the stock as undervalued or expect positive developments in the near future.
Investors typically monitor insider transactions as they can provide insights into the company’s performance and insider perspectives on the value of the stock. The acquisition by Director Roby represents his latest investment in the company's stock, signifying a reinforcement of his stake in California Resources Corp's future.
Shares of California Resources Corp are publicly traded on the New York Stock Exchange under the ticker symbol NYSE:CRC. The company continues to be a significant player in the energy sector, with its activities focused on the exploration and production of oil and natural gas.
Investors and market analysts may keep a close eye on further insider transactions, as these can offer valuable context for the company's financial health and strategic direction.
InvestingPro Insights
With the recent insider purchase by California Resources Corp (NYSE:CRC) Director William B. Roby, investors may be seeking additional data points to gauge the company's financial health and future prospects. Here are some key metrics and insights from InvestingPro that can provide a deeper understanding of CRC's position in the market:
The company's current Market Cap stands at $3.24 billion, which showcases its substantial size within the energy sector. Importantly, California Resources Corp has demonstrated a commitment to shareholder returns by increasing its dividend for three consecutive years, signaling financial stability and a positive outlook for future cash flows. This is complemented by the company's Dividend Yield of 2.63%, reflecting an attractive return for income-focused investors.
An analysis of the company's performance reveals that it has been profitable over the last twelve months, with a Gross Profit Margin of 53.91%, indicating efficient operations and a strong ability to generate earnings from its revenue. Moreover, with four analysts having revised their earnings upwards for the upcoming period, there is a consensus of optimism regarding California Resources Corp's earnings potential.
For investors interested in further insights, there are additional InvestingPro Tips available that delve into aspects such as the company's liquidity, debt levels, and stock performance over various timeframes. With the use of promo code PRONEWS24, users can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable tips. Currently, there are 8 more tips listed on InvestingPro for California Resources Corp, which can be found at: https://www.investing.com/pro/CRC
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.