California Resources Co. (NYSE:CRC) VP Noelle M. Repetti Sells 8,770 Shares

California Resources Co. (NYSE:CRC) VP Noelle M. Repetti sold 8,770 shares of California Resources stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.75, for a total value of $488,927.50. Following the completion of the transaction, the vice president now directly owns 8,531 shares of the company’s stock, valued at approximately $475,603.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

California Resources Price Performance

CRC stock opened at $56.55 on Friday. The business has a 50 day moving average price of $51.95 and a 200 day moving average price of $50.76. The company has a quick ratio of 2.33, a current ratio of 2.43 and a debt-to-equity ratio of 0.57. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.30 and a beta of 0.98. California Resources Co. has a fifty-two week low of $43.09 and a fifty-two week high of $60.41.

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

California Resources Announces Dividend

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

Institutional Trading of California Resources

Large investors have recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in California Resources in the third quarter valued at approximately $499,000. Swiss National Bank raised its position in California Resources by 12.7% in the 3rd quarter. Swiss National Bank now owns 121,900 shares of the oil and gas producer’s stock valued at $6,396,000 after purchasing an additional 13,700 shares during the last quarter. Natixis Advisors LLC acquired a new stake in California Resources during the 3rd quarter worth $579,000. KBC Group NV grew 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 during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in California Resources in the third quarter valued at $682,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CRC shares. Bank of America upgraded shares of California Resources from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $65.00 in a report on Wednesday, August 21st. Jefferies Financial Group started coverage on shares of California Resources in a research note on Thursday, October 24th. They issued a “buy” rating and a $64.00 price target for the company. Stephens initiated 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. TD Cowen initiated coverage on California Resources in a report on Friday, August 2nd. They issued a “buy” rating and a $65.00 target price for the company. Finally, 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. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, California Resources currently has an average rating of “Moderate Buy” and a consensus target price of $65.50.

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.