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California Resources Corp (NYSE:CRC), a $4 billion energy company trading at an attractive P/E ratio of 9.4x, has seen insider activity with Director James N. Chapman acquiring additional shares of the company’s common stock. According to a recent SEC filing, Chapman purchased 17.419 shares at a price of $44.492 per share, amounting to a total transaction value of $775. InvestingPro analysis suggests the stock is currently undervalued. This acquisition was made through a dividend reinvestment plan, bringing Chapman’s total holdings to 43,462.419 shares. The transaction was executed on March 21, 2025. The company currently offers a 3.5% dividend yield and has increased its dividend for four consecutive years, with 25% growth in the last twelve months. For more comprehensive insider trading analysis and dividend insights, access the detailed Pro Research Report available on InvestingPro.
In other recent news, California Resources Corporation reported its fourth-quarter 2024 earnings, revealing a miss on both earnings per share (EPS) and revenue forecasts. The company reported an EPS of $0.91, falling short of the expected $0.9898, and revenue of $877 million, below the forecast of $908.46 million. Despite this, Barclays (LON:BARC) analyst Betty Jiang described the company’s recent update as "overall solid," noting that the fourth-quarter results surpassed expectations in terms of realizations and capital expenditures. However, Jiang adjusted the price target for California Resources shares to $55.00 from $57.00, maintaining an Equalweight rating.
Meanwhile, Truist Securities maintained a Buy rating on California Resources, with a $75.00 price target, expressing confidence in the company’s strategic initiatives. Truist highlighted the company’s focus on establishing a robust operational model aimed at efficiently generating power and managing emissions. The firm also anticipates that California Resources is on the verge of securing a significant data center contract, which could leverage the company’s capabilities.
Additionally, California Resources plans to expand its drilling operations in 2025, with expectations of adjusted EBITDAX ranging between $1.1 billion and $1.2 billion. The company has hedged 70% of its 2025 oil production at $67 per barrel and aims to continue reducing debt while expanding its carbon management and decarbonization efforts. These developments indicate a complex landscape for California Resources as it navigates financial performance, strategic growth opportunities, and analyst perspectives.
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