California Resources Co. (NYSE:CRC) Short Interest Update

California Resources Co. (NYSE:CRC) saw a significant drop in short interest in November. As of November 30th, there was short interest totalling 2,930,000 shares, a drop of 11.5% from the November 15th total of 3,310,000 shares. Based on an average daily trading volume, of 683,200 shares, the short-interest ratio is presently 4.3 days. Currently, 3.9% of the company’s stock are short sold.

Insider Buying and Selling at California Resources

In other news, VP Noelle M. Repetti sold 8,770 shares of the firm’s 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 completion of the transaction, the vice president now directly owns 8,531 shares of the company’s stock, valued at approximately $475,603.25. This trade represents a 50.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Omar Hayat sold 16,016 shares of California Resources stock in a transaction that occurred 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 $1,707,269.20. The trade was 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.

Institutional Trading of California Resources

A number of large investors have recently bought and sold shares of CRC. GAMMA Investing LLC boosted its holdings in shares of California Resources by 61.5% in the third quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 371 shares during the period. Point72 DIFC Ltd bought a new stake in California Resources in the 3rd quarter valued at $70,000. KBC Group NV boosted its stake in California Resources by 29.1% in the 3rd quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 431 shares during the period. Farther Finance Advisors LLC increased its holdings in California Resources by 9.4% during the 3rd 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 in the last quarter. Finally, Atria Investments Inc acquired a new stake in shares of California Resources in the 3rd quarter valued at about $209,000. 97.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CRC has been the topic of several recent analyst reports. Jefferies Financial Group began coverage on California Resources in a report on Thursday, October 24th. They issued a “buy” rating and a $64.00 target price on the stock. Citigroup increased their target price on California Resources from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. Bank of America raised California Resources from a “neutral” rating to a “buy” rating and lifted their price target for the company from $57.00 to $65.00 in a report on Wednesday, August 21st. Stephens began coverage on shares of California Resources in a report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price objective on the stock. Finally, Barclays boosted their target price on shares of California Resources from $55.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, California Resources has an average rating of “Moderate Buy” and a consensus target price of $66.40.

California Resources Trading Down 1.0 %

NYSE CRC traded down $0.52 on Tuesday, reaching $53.29. The company had a trading volume of 694,318 shares, compared to its average volume of 826,472. California Resources has a 52 week low of $43.09 and a 52 week high of $60.41. The stock’s 50 day moving average is $55.11 and its 200-day moving average is $52.08. 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 stock has a market cap of $4.87 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 1.35 and a beta of 1.01.

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

California Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.3875 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.55 annualized dividend and a dividend yield of 2.91%. California Resources’s dividend payout ratio is presently 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.