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

California Resources Co. (NYSE:CRC) VP Noelle M. Repetti sold 10,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.00, for a total value of $530,000.00. Following the transaction, the vice president now directly owns 17,301 shares in the company, valued at approximately $916,953. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

California Resources Stock Performance

CRC stock traded down $0.30 during midday trading on Wednesday, hitting $52.30. The stock had a trading volume of 908,997 shares, compared to its average volume of 880,004. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.19 and a beta of 0.98. The company has a current ratio of 2.43, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. The stock has a 50-day simple moving average of $50.15 and a 200 day simple moving average of $51.07. California Resources Co. has a 52 week low of $43.09 and a 52 week high of $58.44.

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

California Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 2.96%. This is an increase from California Resources’s previous quarterly dividend of $0.31. The ex-dividend date was Friday, August 30th. California Resources’s payout ratio is presently 44.41%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $65.00 price objective on shares of California Resources in a report on Monday, August 12th. Bank of America upgraded shares of California Resources from a “neutral” rating to a “buy” rating and upped their price target for the company from $57.00 to $65.00 in a report on Wednesday, August 21st. TD Cowen began coverage on California Resources in a research note on Friday, August 2nd. They issued a “buy” rating and a $65.00 price objective on the stock. Barclays decreased their target price on California Resources from $62.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, Citigroup lifted their price target on California Resources from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Institutional Investors Weigh In On California Resources

Several large investors have recently modified their holdings of CRC. TFO Wealth Partners LLC boosted its stake in shares of California Resources by 67,800.0% in 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 purchasing an additional 1,356 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in California Resources by 92.4% during 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 purchasing an additional 722 shares during the last quarter. Privium Fund Management B.V. acquired a new position in California Resources in the second quarter valued at about $258,000. Hyperion Capital Advisors LP acquired a new position in California Resources in the first quarter valued at about $275,000. Finally, AlphaMark Advisors LLC bought a new stake in California Resources during the second quarter worth about $320,000. 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.