GSA Capital Partners LLP Invests $682,000 in California Resources Co. (NYSE:CRC)

GSA Capital Partners LLP purchased a new stake in shares of California Resources Co. (NYSE:CRC) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 12,990 shares of the oil and gas producer’s stock, valued at approximately $682,000.

A number of other institutional investors also recently bought and sold shares of CRC. Sei Investments Co. grew its holdings in shares of California Resources by 44.7% during the 1st quarter. Sei Investments Co. now owns 71,693 shares of the oil and gas producer’s stock worth $3,950,000 after acquiring an additional 22,150 shares during the period. Interval Partners LP bought a new stake in shares of California Resources during the second quarter valued at approximately $2,213,000. Vest Financial LLC grew its stake 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 purchasing an additional 130,526 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in California Resources in the second quarter worth $729,000. Finally, Farther Finance Advisors LLC lifted its position in 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 valued at $169,000 after buying an additional 276 shares during the period. 97.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CRC has been the topic of a number of recent research reports. TD Cowen started coverage on shares of California Resources in a research report on Friday, August 2nd. They issued a “buy” rating and a $65.00 target price on the stock. Barclays upped their price objective on shares of California Resources from $55.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd. Stephens started coverage on shares of California Resources in a report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 target price for the company. Citigroup upped their price target on California Resources from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 price objective on shares of California Resources in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, California Resources currently has an average rating of “Moderate Buy” and an average target price of $65.50.

Insiders Place Their Bets

In related 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 value of $368,850.00. Following the transaction, the chief executive officer now owns 166,357 shares of the company’s stock, valued at approximately $8,181,437.26. This trade represents a 4.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Noelle M. Repetti sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.00, for a total transaction of $530,000.00. Following the sale, the vice president now directly owns 17,301 shares of the company’s stock, valued at approximately $916,953. This represents a 36.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,270 shares of company stock valued at $1,387,778. Insiders own 0.03% of the company’s stock.

California Resources Stock Performance

Shares of NYSE CRC opened at $56.57 on Monday. 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’s 50-day moving average price is $52.87 and its 200-day moving average price is $50.86. California Resources Co. has a 52-week low of $43.09 and a 52-week high of $60.41. The company has a market cap of $3.84 billion, a PE ratio of 8.91, a PEG ratio of 1.40 and a beta of 0.98.

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, topping analysts’ consensus estimates of $0.88 by $0.62. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $973.13 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The firm’s revenue was up 194.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 EPS. As a group, analysts anticipate that California Resources Co. will post 3.42 EPS for the current year.

California Resources Dividend Announcement

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