Atria Investments Inc Purchases Shares of 3,991 California Resources Co. (NYSE:CRC)

Atria Investments Inc purchased a new stake in shares of California Resources Co. (NYSE:CRC) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,991 shares of the oil and gas producer’s stock, valued at approximately $209,000.

Several other institutional investors have also recently made changes to their positions in CRC. Vanguard Group Inc. increased its holdings in California Resources by 4.4% during the first quarter. Vanguard Group Inc. now owns 8,100,283 shares of the oil and gas producer’s stock valued at $446,326,000 after buying an additional 344,043 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in California Resources by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,576,306 shares of the oil and gas producer’s stock worth $190,328,000 after purchasing an additional 165,629 shares during the period. American Century Companies Inc. lifted its position in California Resources by 18.1% during the second quarter. American Century Companies Inc. now owns 1,631,432 shares of the oil and gas producer’s stock valued at $86,825,000 after purchasing an additional 250,367 shares in the last quarter. Victory Capital Management Inc. grew its holdings in California Resources by 10.7% during the second quarter. Victory Capital Management Inc. now owns 1,078,123 shares of the oil and gas producer’s stock valued at $57,378,000 after purchasing an additional 104,504 shares during the period. Finally, Point72 Asset Management L.P. increased its position in California Resources by 2,615.2% in the second quarter. Point72 Asset Management L.P. now owns 843,011 shares of the oil and gas producer’s stock worth $44,865,000 after buying an additional 811,963 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CRC. Royal Bank of Canada reiterated an “outperform” rating and issued a $65.00 price target on shares of California Resources in a research note on Monday, August 12th. StockNews.com raised shares of California Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Citigroup raised their price target on shares of California Resources from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. UBS Group initiated coverage on California Resources in a research report on Wednesday, October 16th. They set a “buy” rating and a $68.00 price target on the stock. Finally, Barclays upped their target price on California Resources from $55.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.50.

California Resources Price Performance

Shares of CRC opened at $59.59 on Friday. The firm has a market capitalization of $4.04 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. The company’s fifty day moving average price is $53.86 and its 200-day moving average price is $51.08. California Resources Co. has a 1-year low of $43.09 and a 1-year high of $60.41.

California Resources (NYSE:CRC) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.62. California Resources had a return on equity of 12.16% and a net margin of 17.43%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $973.13 million. The company’s revenue was up 194.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.02 earnings per share. On average, equities research analysts predict that California Resources Co. will post 3.42 EPS for the current year.

California Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 2.60%. The ex-dividend date is Monday, December 2nd. California Resources’s payout ratio is 24.41%.

Insider Transactions at California Resources

In related news, CEO Francisco Leon sold 7,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $49.18, for a total transaction of $368,850.00. Following the sale, the chief executive officer now owns 166,357 shares in the company, valued at approximately $8,181,437.26. This trade represents a 4.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Noelle M. Repetti sold 8,770 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.75, for a total value 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 $475,603.25. The trade was a 50.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,270 shares of company stock worth $1,387,778 over the last quarter. 0.03% of the stock is currently owned by insiders.

California Resources 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.