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

California Resources Co. (NYSE:CRC) VP Noelle M. Repetti sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.00, for a total transaction of $530,000.00. Following the completion of the transaction, the vice president now directly owns 17,301 shares of the company’s stock, valued at approximately $916,953. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

California Resources Stock Performance

California Resources stock opened at $52.91 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.43 and a quick ratio of 2.33. California Resources Co. has a 12 month low of $43.09 and a 12 month high of $58.44. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 1.19 and a beta of 0.98. The stock’s 50-day moving average is $50.14 and its 200-day moving average is $51.08.

California Resources (NYSE:CRC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.36). California Resources had a net margin of 7.61% and a return on equity of 11.27%. The business had revenue of $514.00 million for the quarter, compared to analyst estimates of $477.07 million. During the same period last year, the firm earned $0.53 earnings per share. The company’s quarterly revenue was down 13.0% on a year-over-year basis. Equities analysts anticipate that California Resources Co. will post 3.45 earnings per share for the current year.

California Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.3875 dividend. This is an increase from California Resources’s previous quarterly dividend of $0.31. This represents a $1.55 annualized dividend and a yield of 2.93%. The ex-dividend date was Friday, August 30th. California Resources’s dividend payout ratio is currently 44.41%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CRC. TFO Wealth Partners LLC grew its stake in shares of California Resources by 67,800.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,358 shares of the oil and gas producer’s stock valued at $74,000 after buying an additional 1,356 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of California Resources by 92.4% during 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 purchasing an additional 722 shares during the period. Privium Fund Management B.V. purchased a new stake in shares of California Resources during the second quarter valued at approximately $258,000. Hyperion Capital Advisors LP purchased a new position in shares of California Resources in the first quarter valued at $275,000. Finally, AlphaMark Advisors LLC acquired a new stake in California Resources during the 2nd quarter valued at $320,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays cut their price objective on shares of 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 restated an “outperform” rating and set a $65.00 price objective on shares of California Resources in a report on Monday, August 12th. Bank of America upgraded California Resources from a “neutral” rating to a “buy” rating and upped their target price for the company from $57.00 to $65.00 in a research note on Wednesday, August 21st. TD Cowen started coverage on California Resources in a research note on Friday, August 2nd. They issued a “buy” rating and a $65.00 price target on the stock. Finally, Citigroup increased their price objective on shares of California Resources from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.00.

California Resources Company 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.