California Resources Co. (NYSE:CRC) EVP Omar Hayat Sells 16,016 Shares

California Resources Co. (NYSE:CRC) EVP Omar Hayat sold 16,016 shares of the business’s stock in a transaction that occurred 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 $1,707,269.20. The trade was a 34.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

California Resources Trading Down 0.6 %

Shares of CRC stock opened at $54.92 on Friday. The business’s 50 day moving average is $55.10 and its two-hundred day moving average is $51.95. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. California Resources Co. has a 12 month low of $43.09 and a 12 month high of $60.41. The company has a market cap of $3.73 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01.

California Resources (NYSE:CRC) last released its 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 firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $973.13 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The business’s revenue was up 194.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.02 EPS. Equities analysts predict that California Resources Co. will post 3.58 EPS for the current year.

California Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.3875 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.55 annualized dividend and a yield of 2.82%. California Resources’s payout ratio is 24.41%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of California Resources by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,576,306 shares of the oil and gas producer’s stock worth $190,328,000 after acquiring an additional 165,629 shares during the last quarter. State Street Corp grew its position in California Resources by 5.1% in the 3rd quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer’s stock worth $181,021,000 after purchasing an additional 168,278 shares during the last quarter. American Century Companies Inc. increased its holdings 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 worth $86,825,000 after purchasing an additional 250,367 shares during the period. Geode Capital Management LLC raised its position in shares of California Resources by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,592,663 shares of the oil and gas producer’s stock valued at $83,583,000 after buying an additional 55,815 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of California Resources by 10.7% in the second quarter. Victory Capital Management Inc. now owns 1,078,123 shares of the oil and gas producer’s stock valued at $57,378,000 after buying an additional 104,504 shares during the period. 97.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CRC has been the topic of several research analyst reports. Capital One Financial upgraded shares of California Resources to a “strong-buy” rating in a report on Monday, December 9th. Jefferies Financial Group assumed coverage on California Resources in a research note on Thursday, October 24th. They issued a “buy” rating and a $64.00 target price on the stock. TD Cowen raised their price target on California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Bank of America raised California Resources from a “neutral” rating to a “buy” rating and boosted their price target for the company from $57.00 to $65.00 in a research note on Wednesday, August 21st. Finally, Stephens initiated coverage on shares of California Resources in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, California Resources currently has an average rating of “Moderate Buy” and a consensus target price of $66.40.

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.