Insider Selling: California Resources Co. (NYSE:CRC) VP Sells 8,770 Shares of Stock

California Resources Co. (NYSE:CRC) 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 transaction of $488,927.50. Following the completion of the transaction, the vice president now owns 8,531 shares in the company, valued at approximately $475,603.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

California Resources Price Performance

CRC traded down $0.30 on Thursday, hitting $56.55. 1,035,075 shares of the stock were exchanged, compared to its average volume of 856,164. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 1.30 and a beta of 0.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.43 and a quick ratio of 2.33. California Resources Co. has a 12 month low of $43.09 and a 12 month high of $60.41. The business has a 50-day moving average of $51.88 and a two-hundred day moving average of $50.72.

California Resources (NYSE:CRC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.62. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $973.13 million. California Resources had a net margin of 7.61% and a return on equity of 11.27%. The firm’s quarterly revenue was up 194.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.02 EPS. Sell-side analysts forecast that California Resources Co. will post 3.45 EPS for the current fiscal year.

California Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.3875 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.55 dividend on an annualized basis and a dividend yield of 2.74%. California Resources’s dividend payout ratio (DPR) is currently 68.89%.

Analyst Ratings Changes

A number of research analysts recently commented on CRC shares. Stephens initiated coverage on shares of California Resources in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $73.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $65.00 target price on shares of California Resources in a research report on Monday, August 12th. Jefferies Financial Group started coverage on California Resources in a report on Thursday, October 24th. They set a “buy” rating and a $64.00 price target for the company. Barclays upped their price objective on California Resources from $55.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. Finally, Bank of America raised California Resources from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $65.00 in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, California Resources presently has an average rating of “Moderate Buy” and an average target price of $65.50.

Institutional Trading of California Resources

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in California Resources by 61.5% during the third quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 371 shares in the last quarter. KBC Group NV increased its position in California Resources by 29.1% during the 3rd quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 431 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in California Resources by 9.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock valued at $169,000 after purchasing an additional 276 shares during the last quarter. Atria Investments Inc acquired a new stake in California Resources in the third quarter valued at approximately $209,000. Finally, Privium Fund Management B.V. bought a new stake in shares of California Resources during the second quarter worth $258,000. 97.79% of the stock is currently owned by institutional investors.

California Resources Company Profile

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.