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

California Resources Co. (NYSE:CRC) VP Noelle M. Repetti sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was 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 $916,953. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

California Resources Stock Performance

Shares of NYSE:CRC opened at $52.30 on Thursday. The business has a fifty day moving average of $50.15 and a 200-day moving average of $51.07. The firm has a market cap of $3.58 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.19 and a beta of 0.98. 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 Co. has a twelve month low of $43.09 and a twelve month high of $58.44.

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 for the quarter, missing the consensus estimate of $0.96 by ($0.36). California Resources had a net margin of 7.61% and a return on equity of 11.27%. The company had revenue of $514.00 million during the quarter, compared to analyst estimates of $477.07 million. During the same quarter in the previous year, the business posted $0.53 EPS. The company’s revenue was down 13.0% compared to the same quarter last year. On average, equities research analysts predict that California Resources Co. will post 3.45 EPS for the current fiscal year.

California Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from California Resources’s previous quarterly dividend of $0.31. California Resources’s dividend payout ratio is 44.41%.

Wall Street Analysts Forecast Growth

CRC has been the subject of a number of recent analyst reports. 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. Citigroup lifted their price objective on California Resources from $63.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Barclays cut 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $65.00 price target on shares of California Resources in a research report on Monday, August 12th. Finally, TD Cowen assumed coverage on shares of California Resources in a research note on Friday, August 2nd. They issued a “buy” rating and a $65.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.00.

Institutional Trading of California Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its position in California Resources by 3.7% during the 1st quarter. Lazard Asset Management LLC now owns 7,109 shares of the oil and gas producer’s stock valued at $390,000 after purchasing an additional 253 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of California Resources by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 32,300 shares of the oil and gas producer’s stock worth $1,719,000 after buying an additional 400 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in California Resources by 92.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,503 shares of the oil and gas producer’s stock valued at $82,000 after buying an additional 722 shares during the period. Texas Permanent School Fund Corp lifted its holdings in California Resources by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 56,452 shares of the oil and gas producer’s stock valued at $3,111,000 after buying an additional 738 shares during the period. Finally, Bfsg LLC grew its holdings in California Resources by 15.4% during the 2nd quarter. Bfsg LLC now owns 6,379 shares of the oil and gas producer’s stock worth $339,000 after acquiring an additional 851 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.