California Resources Co. (NYSE:CRC) Shares Purchased by Creative Planning

Creative Planning boosted its stake in California Resources Co. (NYSE:CRC) by 57.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,743 shares of the oil and gas producer’s stock after buying an additional 7,533 shares during the quarter. Creative Planning’s holdings in California Resources were worth $1,088,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC increased its position in California Resources by 3.7% during the 1st quarter. Lazard Asset Management LLC now owns 7,109 shares of the oil and gas producer’s stock worth $390,000 after purchasing an additional 253 shares in the last quarter. GAMMA Investing LLC raised its position in shares of California Resources by 61.5% in the third quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 371 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of California Resources by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 32,300 shares of the oil and gas producer’s stock valued at $1,719,000 after buying an additional 400 shares during the period. Texas Permanent School Fund Corp boosted its position in California Resources by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 56,452 shares of the oil and gas producer’s stock worth $3,111,000 after acquiring an additional 738 shares during the last quarter. Finally, Bfsg LLC grew its stake in California Resources by 15.4% in the 2nd quarter. Bfsg LLC now owns 6,379 shares of the oil and gas producer’s stock worth $339,000 after acquiring an additional 851 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Analyst Ratings Changes

CRC has been the topic of a number of research analyst reports. UBS Group assumed coverage on California Resources in a research note on Wednesday, October 16th. They issued a “buy” rating and a $68.00 price target on the stock. Jefferies Financial Group started coverage on shares of California Resources in a report on Thursday, October 24th. They issued a “buy” rating and a $64.00 target price for the company. Bank of America raised shares of California Resources from a “neutral” rating to a “buy” rating and increased their price target for the stock from $57.00 to $65.00 in a research note on Wednesday, August 21st. Stephens initiated coverage on shares of California Resources in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price objective for the company. Finally, Citigroup increased their target price on California Resources from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, California Resources currently has an average rating of “Moderate Buy” and a consensus price target of $65.50.

Insider Buying and Selling

In other news, Director Christian S. Kendall bought 20,895 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $47.97 per share, for a total transaction of $1,002,333.15. Following the completion of the purchase, the director now owns 24,600 shares of the company’s stock, valued at approximately $1,180,062. The trade was a 500.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Noelle M. Repetti sold 10,000 shares of California Resources stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.00, for a total value of $530,000.00. Following the completion of the sale, the vice president now directly owns 17,301 shares in the company, valued at $916,953. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christian S. Kendall purchased 20,895 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $47.97 per share, with a total value of $1,002,333.15. Following the completion of the purchase, the director now owns 24,600 shares of the company’s stock, valued at $1,180,062. The trade was a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.03% of the stock is currently owned by corporate insiders.

California Resources Price Performance

NYSE CRC opened at $51.96 on Friday. The company has a quick ratio of 2.33, a current ratio of 2.43 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $3.56 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. California Resources Co. has a 12-month low of $43.09 and a 12-month high of $57.88. The company has a 50 day moving average price of $51.74 and a two-hundred day moving average price of $50.76.

California Resources (NYSE:CRC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.36). The firm had revenue of $514.00 million during the quarter, compared to the consensus estimate of $477.07 million. California Resources had a net margin of 7.61% and a return on equity of 11.27%. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 EPS. As a group, equities analysts predict that California Resources Co. will post 3.45 earnings per share for the current fiscal year.

California Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.3875 dividend. This is a positive change from California Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.55 annualized dividend and a dividend yield of 2.98%. California Resources’s dividend payout ratio is presently 44.41%.

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.