Barclays PLC Has $7.80 Million Stock Position in California Resources Co. (NYSE:CRC)

Barclays PLC cut its holdings in California Resources Co. (NYSE:CRC) by 0.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,550 shares of the oil and gas producer’s stock after selling 1,021 shares during the quarter. Barclays PLC owned approximately 0.22% of California Resources worth $7,796,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of California Resources by 61.5% in the 3rd quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 371 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in California Resources in the third quarter valued at approximately $70,000. KBC Group NV grew its stake in shares of California Resources by 29.1% during the third quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer’s stock worth $100,000 after buying an additional 431 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of California Resources by 9.4% during the third quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock worth $169,000 after buying an additional 276 shares in the last quarter. Finally, Atria Investments Inc bought a new position in shares of California Resources in the 3rd quarter valued at $209,000. Institutional investors own 97.79% of the company’s stock.

Insider Transactions at California Resources

In related news, VP Noelle M. Repetti sold 8,770 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was 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 directly owns 8,531 shares of the company’s stock, valued at $475,603.25. The trade was a 50.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Omar Hayat sold 16,016 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $55.18, for a total value of $883,762.88. Following the completion of the transaction, the executive vice president now owns 30,940 shares in the company, valued at approximately $1,707,269.20. The trade was a 34.11 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CRC shares. Stephens assumed coverage on California Resources in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price objective on the stock. UBS Group initiated coverage on California Resources in a report on Wednesday, October 16th. They set a “buy” rating and a $68.00 price target on the stock. Bank of America upgraded shares of California Resources from a “neutral” rating to a “buy” rating and raised their price objective for the company from $57.00 to $65.00 in a report on Wednesday, August 21st. StockNews.com raised shares of California Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Capital One Financial raised shares of California Resources to a “strong-buy” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, California Resources has an average rating of “Moderate Buy” and a consensus price target of $66.40.

California Resources Price Performance

CRC stock opened at $53.29 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 1.35 and a beta of 1.01. The company’s fifty day simple moving average is $55.11 and its 200 day simple moving average is $52.08. California Resources Co. has a 12-month low of $43.09 and a 12-month high of $60.41.

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

California Resources Announces Dividend

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

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.