California Resources Co. (NYSE:CRC) VP Sells $530,000.00 in Stock

California Resources Co. (NYSE:CRC) VP Noelle M. Repetti sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.00, for a total transaction of $530,000.00. Following the completion of the transaction, the vice president now owns 17,301 shares of the company’s stock, valued at approximately $916,953. The sale was disclosed in a filing with the SEC, which is available at this link.

California Resources Stock Up 0.3 %

Shares of California Resources stock opened at $52.91 on Friday. The company has a market cap of $3.63 billion, a P/E ratio of 15.16, a PEG ratio of 1.19 and a beta of 0.98. The firm has a fifty day moving average of $50.14 and a two-hundred day moving average of $51.08. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.43. California Resources Co. has a one year low of $43.09 and a one year high of $58.44.

California Resources (NYSE:CRC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.36). California Resources had a net margin of 7.61% and a return on equity of 11.27%. The firm had revenue of $514.00 million during the quarter, compared to analyst estimates of $477.07 million. During the same quarter in the previous year, the business earned $0.53 EPS. California Resources’s revenue for the quarter was down 13.0% on a year-over-year basis. On average, analysts forecast that California Resources Co. will post 3.45 earnings per share for the current year.

California Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Friday, August 30th. This is a positive change from California Resources’s previous quarterly dividend of $0.31. California Resources’s dividend payout ratio is currently 44.41%.

Institutional Investors Weigh In On California Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of CRC. TFO Wealth Partners LLC grew its holdings in shares of California Resources by 67,800.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,358 shares of the oil and gas producer’s stock worth $74,000 after acquiring an additional 1,356 shares during the period. Quadrant Capital Group LLC raised its position in California Resources by 92.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,503 shares of the oil and gas producer’s stock worth $82,000 after acquiring an additional 722 shares during the last quarter. Privium Fund Management B.V. purchased a new stake in shares of California Resources in the second quarter valued at about $258,000. Hyperion Capital Advisors LP acquired a new stake in shares of California Resources in the first quarter valued at approximately $275,000. Finally, AlphaMark Advisors LLC purchased a new position in shares of California Resources during the 2nd quarter worth approximately $320,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CRC. Citigroup upped 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. Barclays cut their price target on California Resources from $62.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Bank of America raised California Resources from a “neutral” rating to a “buy” rating and increased their price objective for the company from $57.00 to $65.00 in a report on Wednesday, August 21st. TD Cowen initiated coverage on shares of California Resources in a research report on Friday, August 2nd. They issued a “buy” rating and a $65.00 price target for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price objective on shares of California Resources in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, California Resources presently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

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.