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James N. Chapman, a director at California Resources Corp (NYSE:CRC), recently acquired 2,000 shares of the company’s common stock. The transaction, dated March 5, 2025, was valued at approximately $78,839, with shares purchased at an average price of $39.4199 each. The timing is notable as InvestingPro data shows the stock trading in oversold territory, down over 22% year-to-date, with a current dividend yield of 3.85%. Following this acquisition, Chapman now holds 43,445 shares directly. This move reflects Chapman’s ongoing investment in the company, which is involved in crude petroleum and natural gas production. With a market capitalization of $3.71 billion and trading below its Fair Value according to InvestingPro analysis, the stock currently trades at an attractive P/E ratio of 8.6x. Discover more insights and 8 additional ProTips about CRC in the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, California Resources Corporation reported its fourth-quarter 2024 earnings, which fell short of expectations. The company announced an earnings per share (EPS) of $0.91 and revenue of $877 million, both below forecasts of $0.9898 and $908.46 million, respectively. Despite this, California Resources highlighted progress in its carbon capture and storage initiatives and returned about 85% of its 2024 free cash flow to shareholders. Additionally, Barclays (LON:BARC) adjusted its price target for the company, lowering it to $55 from $57, while maintaining an Equalweight rating. Barclays noted that although the company’s fourth-quarter results surpassed expectations, concerns arose due to the deferral of a payment from a joint venture with Brookfield. Meanwhile, Truist Securities maintained a Buy rating on California Resources with a $75 price target, expressing confidence in the company’s strategic initiatives and potential for future growth. Truist also mentioned the possibility of a significant data center contract that could leverage the company’s capabilities. These developments reflect the ongoing dynamics and challenges facing California Resources Corporation.
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