Amalgamated Bank Boosts Stock Holdings in California Resources Co. (NYSE:CRC)

Amalgamated Bank increased its position in California Resources Co. (NYSE:CRC) by 3.1% in the third quarter, Holdings Channel.com reports. The fund owned 20,406 shares of the oil and gas producer’s stock after purchasing an additional 605 shares during the period. Amalgamated Bank’s holdings in California Resources were worth $1,071,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its holdings in California Resources by 3.7% in the first quarter. Lazard Asset Management LLC now owns 7,109 shares of the oil and gas producer’s stock worth $390,000 after purchasing an additional 253 shares during the last quarter. Farther Finance Advisors LLC boosted its position in California Resources by 9.4% in the third quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock worth $169,000 after purchasing an additional 276 shares during the last quarter. GAMMA Investing LLC grew its stake 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 purchasing an additional 371 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of California Resources by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,300 shares of the oil and gas producer’s stock worth $1,719,000 after purchasing an additional 400 shares during the period. Finally, AlphaMark Advisors LLC boosted its holdings in shares of California Resources by 10.9% in the third quarter. AlphaMark Advisors LLC now owns 6,658 shares of the oil and gas producer’s stock worth $349,000 after buying an additional 652 shares during the last quarter. 97.79% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Francisco Leon sold 7,500 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $49.18, for a total transaction 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other California Resources news, VP Noelle M. Repetti sold 8,770 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.75, for a total value of $488,927.50. Following the completion of the sale, the vice president now owns 8,531 shares of the company’s stock, valued at approximately $475,603.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Francisco Leon sold 7,500 shares of the 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 completion of the transaction, the chief executive officer now directly owns 166,357 shares of the company’s stock, valued at $8,181,437.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,270 shares of company stock valued at $1,387,778. 0.03% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CRC shares. StockNews.com cut shares of California Resources from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Barclays raised their target price on 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 California Resources in a report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price target for the company. TD Cowen initiated coverage on California Resources in a research note on Friday, August 2nd. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, Bank of America raised California Resources from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $65.00 in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $65.50.

California Resources Trading Down 1.8 %

Shares of CRC opened at $57.48 on Thursday. California Resources Co. has a fifty-two week low of $43.09 and a fifty-two week high of $60.41. 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 company’s fifty day moving average is $52.52 and its 200 day moving average is $50.81. The stock has a market capitalization of $3.90 billion, a PE ratio of 9.05, a P/E/G ratio of 1.45 and a beta of 0.98.

California Resources (NYSE:CRC) last posted 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. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $973.13 million. During the same period in the previous year, the firm earned $1.02 earnings per share. California Resources’s quarterly revenue was up 194.1% compared to the same quarter last year. Sell-side analysts expect that California Resources Co. will post 3.42 earnings per share for the current fiscal year.

California Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.3875 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.55 dividend on an annualized basis and a yield of 2.70%. California Resources’s payout ratio is 24.41%.

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.