State of Alaska Department of Revenue Decreases Stock Position in California Resources Co. (NYSE:CRC)

State of Alaska Department of Revenue cut its stake in shares of California Resources Co. (NYSE:CRCFree Report) by 1.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,295 shares of the oil and gas producer’s stock after selling 388 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of California Resources worth $2,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. TFO Wealth Partners LLC boosted its stake in shares of California Resources by 67,800.0% during 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 purchasing an additional 1,356 shares during the period. Quadrant Capital Group LLC grew its holdings in California Resources by 92.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,503 shares of the oil and gas producer’s stock worth $82,000 after acquiring an additional 722 shares during the last quarter. iA Global Asset Management Inc. purchased a new position in shares of California Resources in the third quarter valued at about $211,000. Vest Financial LLC bought a new position in shares of California Resources during the fourth quarter valued at about $250,000. Finally, Donoghue Forlines LLC purchased a new stake in shares of California Resources during the fourth quarter worth about $282,000. 97.79% of the stock is currently owned by institutional investors.

California Resources Stock Down 3.0 %

NYSE:CRC opened at $51.32 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.41 and a quick ratio of 1.29. The firm’s 50-day moving average price is $49.49 and its 200-day moving average price is $51.82. The company has a market capitalization of $3.52 billion, a PE ratio of 14.70, a P/E/G ratio of 0.59 and a beta of 0.98. California Resources Co. has a 1-year low of $43.30 and a 1-year high of $58.44.

California Resources (NYSE:CRCGet Free Report) last announced its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.17. California Resources had a net margin of 11.34% and a return on equity of 11.00%. The business had revenue of $454.00 million during the quarter, compared to the consensus estimate of $490.21 million. During the same quarter last year, the firm earned $2.63 earnings per share. The business’s revenue for the quarter was down 55.7% on a year-over-year basis. On average, equities analysts predict that California Resources Co. will post 4.44 EPS for the current fiscal year.

California Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.42%. California Resources’s dividend payout ratio is currently 35.53%.

Insider Activity

In related news, Director Mark Allen Mcfarland sold 37,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $48.10, for a total value of $1,779,700.00. Following the transaction, the director now owns 104,939 shares in the company, valued at approximately $5,047,565.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRC. Mizuho boosted their price target on California Resources from $63.00 to $64.00 and gave the company a “buy” rating in a report on Monday, May 13th. Barclays started coverage on California Resources in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $62.00 price target for the company. Stifel Nicolaus boosted their price objective on shares of California Resources from $68.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $65.00 target price on shares of California Resources in a research report on Wednesday, June 12th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Read Our Latest Stock Analysis on CRC

About California Resources

(Free Report)

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.

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Institutional Ownership by Quarter for California Resources (NYSE:CRC)

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