California Resources (NYSE:CRC) VP Noelle Repetti Sells 8,564 Shares

California Resources Corporation (NYSE:CRC) VP Noelle Repetti sold 8,564 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $63.71, for a total value of $545,612.44. Following the completion of the transaction, the vice president directly owned 7,684 shares of the company’s stock, valued at approximately $489,547.64. This trade represents a 52.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

California Resources Trading Up 2.2%

Shares of California Resources stock opened at $64.97 on Friday. The firm has a market capitalization of $5.76 billion, a PE ratio of 15.92 and a beta of 1.12. The company’s fifty day moving average price is $52.71 and its two-hundred day moving average price is $50.33. California Resources Corporation has a 52-week low of $30.97 and a 52-week high of $65.68. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.89 and a quick ratio of 0.78.

California Resources (NYSE:CRC) last posted its quarterly earnings data on Monday, March 2nd. The oil and gas producer reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). California Resources had a return on equity of 10.23% and a net margin of 9.89%.The firm had revenue of $924.00 million for the quarter, compared to the consensus estimate of $789.67 million. During the same quarter in the previous year, the business posted $0.91 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts expect that California Resources Corporation will post 3.85 EPS for the current year.

California Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 13th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, March 13th. California Resources’s payout ratio is currently 39.71%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays upped their target price on California Resources from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Tuesday. Pickering Energy Partners downgraded California Resources from an “outperform” rating to a “neutral” rating in a research report on Friday, January 9th. TD Cowen raised California Resources to a “strong-buy” rating in a research report on Monday, February 9th. Zacks Research upgraded California Resources from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Finally, Mizuho boosted their price objective on California Resources from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, California Resources currently has an average rating of “Moderate Buy” and a consensus target price of $66.90.

Institutional Investors Weigh In On California Resources

A number of hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC acquired a new position in shares of California Resources during the fourth quarter worth $26,000. Clearstead Advisors LLC increased its holdings in California Resources by 82.5% in the 3rd quarter. Clearstead Advisors LLC now owns 500 shares of the oil and gas producer’s stock worth $27,000 after purchasing an additional 226 shares in the last quarter. Pinnacle Holdings LLC bought a new position in California Resources in the fourth quarter valued at about $27,000. Salomon & Ludwin LLC bought a new stake in shares of California Resources during the third quarter worth about $29,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of California Resources in the third quarter valued at approximately $36,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

California Resources Company Profile

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.