Thrivent Financial for Lutherans Sells 3,825 Shares of California Resources Co. (NYSE:CRC)

Thrivent Financial for Lutherans reduced its stake in California Resources Co. (NYSE:CRC) by 4.6% during the second quarter, HoldingsChannel.com reports. The firm owned 79,962 shares of the oil and gas producer’s stock after selling 3,825 shares during the quarter. Thrivent Financial for Lutherans’ holdings in California Resources were worth $4,256,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. 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. WINTON GROUP Ltd grew its position in California Resources by 9.4% during the 2nd quarter. WINTON GROUP Ltd now owns 20,109 shares of the oil and gas producer’s stock valued at $1,070,000 after purchasing an additional 1,731 shares during the last quarter. Vest Financial LLC raised its holdings in California Resources by 38.4% in the second quarter. Vest Financial LLC now owns 470,694 shares of the oil and gas producer’s stock worth $25,050,000 after buying an additional 130,526 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of California Resources by 18.1% in the second quarter. American Century Companies Inc. now owns 1,631,432 shares of the oil and gas producer’s stock worth $86,825,000 after buying an additional 250,367 shares in the last quarter. Finally, SIR Capital Management L.P. purchased a new stake in shares of California Resources during the second quarter valued at approximately $11,820,000. Institutional investors own 97.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 price objective on shares of California Resources in a report on Monday, August 12th. 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. Bank of America raised California Resources from a “neutral” rating to a “buy” rating and increased their price objective for the company from $57.00 to $65.00 in a research report on Wednesday, August 21st. 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 report on Thursday, August 8th. Finally, Citigroup raised their price target on shares of California Resources from $63.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, California Resources presently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Insider Transactions at California Resources

In related news, Director Christian S. Kendall purchased 20,895 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $47.97 per share, with a total value of $1,002,333.15. Following the completion of the acquisition, the director now owns 24,600 shares of the company’s stock, valued at approximately $1,180,062. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other California Resources news, CEO Francisco Leon sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $49.18, for a total transaction of $368,850.00. Following the sale, the chief executive officer now owns 166,357 shares in the company, valued at approximately $8,181,437.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christian S. Kendall purchased 20,895 shares of the stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $47.97 per share, for a total transaction of $1,002,333.15. Following the acquisition, the director now directly owns 24,600 shares of the company’s stock, valued at $1,180,062. The disclosure for this purchase can be found here. 0.03% of the stock is currently owned by company insiders.

California Resources Stock Up 3.4 %

CRC stock opened at $51.47 on Friday. The business’s 50-day moving average is $50.15 and its two-hundred day moving average is $51.11. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.31 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 $58.19. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.43.

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

California Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.3875 per share. This is an increase from California Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.01%. California Resources’s payout ratio is presently 44.41%.

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.