Public Employees Retirement System of Ohio Sells 12,560 Shares of California Resources Co. (NYSE:CRC)

Public Employees Retirement System of Ohio lessened its position in California Resources Co. (NYSE:CRC) by 35.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,210 shares of the oil and gas producer’s stock after selling 12,560 shares during the period. Public Employees Retirement System of Ohio’s holdings in California Resources were worth $1,218,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in California Resources by 9.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock worth $169,000 after buying an additional 276 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of California Resources by 61.5% during the 3rd quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 371 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of California Resources by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,300 shares of the oil and gas producer’s stock valued at $1,719,000 after acquiring an additional 400 shares during the last quarter. KBC Group NV grew its stake in shares of California Resources by 29.1% in the third quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer’s stock worth $100,000 after acquiring an additional 431 shares during the period. Finally, Amalgamated Bank raised its holdings in shares of California Resources by 3.1% during the third quarter. Amalgamated Bank now owns 20,406 shares of the oil and gas producer’s stock valued at $1,071,000 after purchasing an additional 605 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

California Resources Stock Performance

Shares of NYSE CRC opened at $50.98 on Friday. The stock has a market cap of $4.66 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. California Resources Co. has a 1 year low of $43.09 and a 1 year high of $60.41. The firm has a fifty day moving average price of $55.08 and a 200-day moving average price of $52.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89.

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

California Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.3875 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.55 dividend on an annualized basis and a yield of 3.04%. California Resources’s dividend payout ratio is presently 24.41%.

Insiders Place Their Bets

In other California Resources news, EVP Omar Hayat sold 16,016 shares of California Resources stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $55.18, for a total value of $883,762.88. Following the sale, the executive vice president now directly owns 30,940 shares in the company, valued at approximately $1,707,269.20. The trade was a 34.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Noelle M. Repetti sold 8,770 shares of the stock in a transaction dated 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 of the company’s stock, valued at $475,603.25. This trade represents a 50.69 % decrease in their position. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRC. Capital One Financial upgraded shares of California Resources to a “strong-buy” rating in a report on Monday, December 9th. Stephens began coverage on California Resources in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $73.00 price objective for the company. StockNews.com raised California Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Citigroup upped their price target on shares of California Resources from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Finally, Barclays raised 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. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.40.

California Resources 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.