MML Investors Services LLC Acquires 1,808 Shares of California Resources Co. (NYSE:CRC)

MML Investors Services LLC boosted its position in shares of California Resources Co. (NYSE:CRC) by 33.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,183 shares of the oil and gas producer’s stock after buying an additional 1,808 shares during the period. MML Investors Services LLC’s holdings in California Resources were worth $377,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its position in California Resources by 9.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock valued at $169,000 after acquiring an additional 276 shares in the last quarter. GAMMA Investing LLC increased its holdings in California Resources by 61.5% in the 3rd quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 371 shares in the last quarter. KBC Group NV increased its position in shares of California Resources by 29.1% during the third quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 431 shares in the last quarter. Amalgamated Bank grew its position in shares of California Resources by 3.1% in the third quarter. Amalgamated Bank now owns 20,406 shares of the oil and gas producer’s stock valued at $1,071,000 after purchasing an additional 605 shares in the last quarter. Finally, AlphaMark Advisors LLC raised its stake in California Resources by 10.9% during the third quarter. AlphaMark Advisors LLC now owns 6,658 shares of the oil and gas producer’s stock worth $349,000 after purchasing an additional 652 shares during the period. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other California Resources news, VP Noelle M. Repetti sold 8,770 shares of California Resources stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.75, for a total transaction of $488,927.50. Following the completion of the sale, the vice president now owns 8,531 shares of the company’s stock, valued at approximately $475,603.25. The trade was a 50.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Omar Hayat sold 16,016 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $55.18, for a total value of $883,762.88. Following the completion of the transaction, the executive vice president now owns 30,940 shares in the company, valued at $1,707,269.20. This represents a 34.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.63% of the stock is owned by company insiders.

California Resources Trading Up 1.4 %

Shares of California Resources stock opened at $51.50 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $54.98 and a 200-day simple moving average of $52.24. California Resources Co. has a fifty-two week low of $43.09 and a fifty-two week high of $60.41. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01.

California Resources (NYSE:CRC) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $973.13 million. During the same period last year, the company posted $1.02 EPS. The company’s revenue was up 194.1% compared to the same quarter last year. On average, equities analysts forecast that California Resources Co. will post 3.58 EPS for the current fiscal year.

California Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.3875 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.55 annualized dividend and a dividend yield of 3.01%. California Resources’s payout ratio is 24.41%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CRC shares. Capital One Financial upgraded shares of California Resources to a “strong-buy” rating in a report on Monday, December 9th. Citigroup lifted their price objective on California Resources from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. started coverage on shares of California Resources in a research report on Friday, December 20th. They issued a “neutral” rating and a $63.00 price objective for the company. Stephens began coverage on California Resources in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $73.00 price objective on the stock. Finally, Barclays raised their price target on shares of California Resources from $55.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.09.

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.