Barclays PLC Decreases Stock Position in California Resources Co. (NYSE:CRC)

Barclays PLC cut its position in California Resources Co. (NYSE:CRC) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 148,550 shares of the oil and gas producer’s stock after selling 1,021 shares during the period. Barclays PLC’s holdings in California Resources were worth $7,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in California Resources by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,576,306 shares of the oil and gas producer’s stock valued at $190,328,000 after acquiring an additional 165,629 shares during the period. State Street Corp raised its position in shares of California Resources by 5.1% in the third quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer’s stock valued at $181,021,000 after purchasing an additional 168,278 shares during the period. American Century Companies Inc. lifted its stake in shares of California Resources by 18.1% during the 2nd quarter. American Century Companies Inc. now owns 1,631,432 shares of the oil and gas producer’s stock valued at $86,825,000 after buying an additional 250,367 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in California Resources by 10.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,078,123 shares of the oil and gas producer’s stock worth $57,378,000 after buying an additional 104,504 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in California Resources by 8.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,202 shares of the oil and gas producer’s stock valued at $51,116,000 after buying an additional 75,606 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Insider Transactions at California Resources

In other news, VP Noelle M. Repetti sold 8,770 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.75, for a total value of $488,927.50. Following the completion of the sale, the vice president now owns 8,531 shares of the company’s stock, valued at approximately $475,603.25. This represents a 50.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Omar Hayat sold 16,016 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $55.18, for a total transaction of $883,762.88. Following the transaction, the executive vice president now directly owns 30,940 shares in the company, valued at approximately $1,707,269.20. This represents a 34.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.

California Resources Trading Down 1.0 %

Shares of CRC opened at $53.29 on Wednesday. California Resources Co. has a 1-year low of $43.09 and a 1-year high of $60.41. The company has a market capitalization of $4.87 billion, a P/E ratio of 8.39, a P/E/G ratio of 1.35 and a beta of 1.01. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. The firm’s 50 day simple moving average is $55.11 and its 200 day simple moving average is $52.08.

California Resources (NYSE:CRC) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.62. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $973.13 million. During the same quarter last year, the company posted $1.02 EPS. The business’s quarterly revenue was up 194.1% on a year-over-year basis. Sell-side analysts forecast that California Resources Co. will post 3.58 earnings per share for the current fiscal year.

California Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Monday, December 2nd. California Resources’s dividend payout ratio (DPR) is currently 24.41%.

Wall Street Analysts Forecast Growth

CRC has been the topic of several recent research reports. StockNews.com upgraded California Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Barclays raised their target price on California Resources from $55.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. Bank of America upgraded California Resources from a “neutral” rating to a “buy” rating and upped their price target for the company from $57.00 to $65.00 in a research report on Wednesday, August 21st. UBS Group assumed coverage on shares of California Resources in a research report on Wednesday, October 16th. They issued a “buy” rating and a $68.00 price objective for the company. Finally, Citigroup boosted their price objective on shares of California Resources from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, California Resources has a consensus rating of “Moderate Buy” and a consensus price target of $66.40.

About California Resources

California Resources Corporation operates as an independent oil and natural gas exploration and production, and carbon management company in the United States. The company explores, produces, and markets crude oil, natural gas, and natural gas liquids for marketers, California refineries, and other purchasers that have access to transportation and storage facilities.