Fieldview Capital Management LLC Trims Stock Holdings in California Resources Corporation $CRC

Fieldview Capital Management LLC lessened its stake in shares of California Resources Corporation (NYSE:CRC) by 72.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,539 shares of the oil and gas producer’s stock after selling 34,800 shares during the quarter. Fieldview Capital Management LLC’s holdings in California Resources were worth $720,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of California Resources by 15.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,549,636 shares of the oil and gas producer’s stock worth $188,776,000 after purchasing an additional 474,521 shares during the period. American Century Companies Inc. raised its position in California Resources by 5.6% in the third quarter. American Century Companies Inc. now owns 3,006,430 shares of the oil and gas producer’s stock valued at $159,882,000 after purchasing an additional 159,708 shares during the period. Sourcerock Group LLC lifted its stake in California Resources by 63.8% during the second quarter. Sourcerock Group LLC now owns 2,000,649 shares of the oil and gas producer’s stock worth $91,370,000 after purchasing an additional 779,280 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of California Resources by 6.1% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,289,479 shares of the oil and gas producer’s stock worth $58,891,000 after buying an additional 73,885 shares during the period. Finally, Invesco Ltd. boosted its position in shares of California Resources by 155.8% during the second quarter. Invesco Ltd. now owns 1,062,553 shares of the oil and gas producer’s stock worth $48,527,000 after buying an additional 647,190 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at California Resources

In other news, Director Mark Allen Mcfarland sold 16,372 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $64.83, for a total transaction of $1,061,396.76. Following the sale, the director owned 76,265 shares of the company’s stock, valued at approximately $4,944,259.95. This trade represents a 17.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Omar Hayat sold 23,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $65.87, for a total value of $1,515,010.00. Following the sale, the chief operating officer owned 82,236 shares of the company’s stock, valued at approximately $5,416,885.32. The trade was a 21.86% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 47,936 shares of company stock valued at $3,122,019. Corporate insiders own 0.63% of the company’s stock.

California Resources Price Performance

California Resources stock opened at $61.66 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $53.43 and a 200-day simple moving average of $50.57. The stock has a market cap of $5.46 billion, a P/E ratio of 15.11 and a beta of 1.12. California Resources Corporation has a 12-month low of $30.97 and a 12-month high of $66.35.

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

California Resources Announces Dividend

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 issued a $0.405 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.6%. California Resources’s dividend payout ratio is presently 39.71%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CRC shares. Mizuho boosted their price objective on California Resources from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Wells Fargo & Company raised their target price on California Resources from $56.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. TD Cowen raised California Resources to a “strong-buy” rating in a research report on Monday, February 9th. UBS Group increased their price target on shares of California Resources from $63.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Zacks Research raised shares of California Resources from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, California Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.90.

California Resources 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.