Noelle M. Repetti Sells 10,000 Shares of California Resources Co. (NYSE:CRC) Stock

California Resources Co. (NYSE:CRC) VP Noelle M. Repetti sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 17,301 shares of the company’s stock, valued at $916,953. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

California Resources Stock Up 0.9 %

CRC stock opened at $52.77 on Friday. The stock has a 50-day simple moving average of $50.15 and a two-hundred day simple moving average of $51.07. California Resources Co. has a twelve month low of $43.09 and a twelve month high of $58.44. The firm has a market capitalization of $3.62 billion, a PE ratio of 15.12, a PEG ratio of 1.19 and a beta of 0.98. The company has a quick ratio of 2.33, a current ratio of 2.43 and a debt-to-equity ratio of 0.57.

California Resources (NYSE:CRC) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.60 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.36). The firm had revenue of $514.00 million for the quarter, compared to analysts’ expectations of $477.07 million. California Resources had a net margin of 7.61% and a return on equity of 11.27%. California Resources’s revenue was down 13.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. On average, equities analysts predict that California Resources Co. will post 3.45 EPS for the current fiscal year.

California Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.3875 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.55 annualized dividend and a dividend yield of 2.94%. This is a boost from California Resources’s previous quarterly dividend of $0.31. California Resources’s dividend payout ratio is presently 44.41%.

Institutional Investors Weigh In On California Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC raised its holdings in shares of California Resources by 92.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,503 shares of the oil and gas producer’s stock valued at $82,000 after acquiring an additional 722 shares in the last quarter. Franklin Resources Inc. lifted its position in California Resources by 26.7% during the fourth quarter. Franklin Resources Inc. now owns 22,371 shares of the oil and gas producer’s stock valued at $1,223,000 after purchasing an additional 4,720 shares during the last quarter. US Bancorp DE grew its stake in California Resources by 3,737.6% in the 4th quarter. US Bancorp DE now owns 13,585 shares of the oil and gas producer’s stock worth $743,000 after buying an additional 13,231 shares in the last quarter. TD Asset Management Inc bought a new position in shares of California Resources in the 4th quarter worth $2,149,000. Finally, TFO Wealth Partners LLC raised its position in shares of California Resources by 67,800.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,358 shares of the oil and gas producer’s stock valued at $74,000 after buying an additional 1,356 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays reduced their price objective on California Resources from $62.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Bank of America upgraded California Resources from a “neutral” rating to a “buy” rating and increased their price target for the stock from $57.00 to $65.00 in a research note on Wednesday, August 21st. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 price objective on shares of California Resources in a research note on Monday, August 12th. TD Cowen started coverage on shares of California Resources in a research report on Friday, August 2nd. They set a “buy” rating and a $65.00 target price for the company. Finally, Citigroup boosted their price target on shares of California Resources from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.