Orion Portfolio Solutions LLC Sells 3,952 Shares of California Resources Co. (NYSE:CRC)

Orion Portfolio Solutions LLC reduced its holdings in shares of California Resources Co. (NYSE:CRC) by 36.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,931 shares of the oil and gas producer’s stock after selling 3,952 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in California Resources were worth $364,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CRC. GSA Capital Partners LLP bought a new position in California Resources during the third quarter valued at about $682,000. Natixis Advisors LLC purchased a new stake in shares of California Resources during the 3rd quarter worth approximately $579,000. Swiss National Bank raised its holdings in shares of 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 worth $6,396,000 after purchasing an additional 13,700 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in California Resources by 8.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 974,202 shares of the oil and gas producer’s stock valued at $51,116,000 after purchasing an additional 75,606 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in California Resources in the third quarter valued at approximately $499,000. Institutional investors own 97.79% of the company’s stock.

California Resources Price Performance

NYSE:CRC opened at $51.17 on Thursday. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 8.06, a P/E/G ratio of 1.35 and a beta of 1.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. The stock has a fifty day moving average of $55.10 and a 200 day moving average of $52.07. California Resources Co. has a 52-week low of $43.09 and a 52-week high of $60.41.

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

California Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Monday, December 2nd. California Resources’s payout ratio is 24.41%.

Insider Activity

In other California Resources news, VP Noelle M. Repetti sold 8,770 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.75, for a total transaction of $488,927.50. Following the transaction, the vice president now directly owns 8,531 shares in the company, valued at $475,603.25. This trade represents a 50.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Omar Hayat sold 16,016 shares of California Resources stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $55.18, for a total transaction of $883,762.88. Following the transaction, the executive vice president now directly owns 30,940 shares in the company, valued at $1,707,269.20. This trade represents a 34.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CRC shares. Capital One Financial upgraded California Resources to a “strong-buy” rating in a research note on Monday, December 9th. Citigroup upped their price objective 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. StockNews.com upgraded shares of California Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. UBS Group assumed coverage on shares of California Resources in a research note on Wednesday, October 16th. They set a “buy” rating and a $68.00 price target on the stock. Finally, Stephens began coverage on shares of California Resources in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $73.00 price objective for the company. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, California Resources currently has an average rating of “Moderate Buy” and an average price target of $66.40.

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.