CRC - Insider Selling: Mark Allen McFarland Unloads $2.63M Of California Resources Stock | Benzinga
A substantial insider sell was reported on May 30, by Mark Allen McFarland, Board Member at California Resources (NYSE:CRC), based on the recent SEC filing.
What Happened: According to a Form 4 filing with the U.S. Securities and Exchange Commission on Thursday, McFarland sold 55,000 shares of California Resources. The total transaction value is $2,630,094.
At Friday morning, California Resources shares are up by 0.66%, trading at $47.14.
Discovering California Resources: A Closer Look
California Resources Corp is an independent oil and natural gas exploration and production company operating properties exclusively within California. It provides affordable and reliable energy in a safe and responsible manner, to support and enhance the quality of life of Californians and the local communities in which the company operates. It has some of the lowest carbon intensity production in the United States and is focused on maximizing the value of its land, mineral, and technical resources for decarbonization by developing carbon capture and storage (CCS) and other emissions-reducing projects.
California Resources's Financial Performance
Revenue Challenges: California Resources's revenue growth over 3 months faced difficulties. As of 31 March, 2024, the company experienced a decline of approximately -46.6%. This indicates a decrease in top-line earnings. As compared to competitors, ...