US Bancorp DE Has $27,000 Stake in California Resources Co. (NYSE:CRC)

US Bancorp DE reduced its stake in shares of California Resources Co. (NYSE:CRC) by 59.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 515 shares of the oil and gas producer’s stock after selling 761 shares during the period. US Bancorp DE’s holdings in California Resources were worth $27,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CRC. GAMMA Investing LLC raised its holdings 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 purchasing an additional 371 shares during the last quarter. Privium Fund Management B.V. bought a new position in shares of California Resources during the 2nd quarter worth approximately $258,000. Hyperion Capital Advisors LP purchased a new position in shares of California Resources in the 1st quarter worth approximately $275,000. DekaBank Deutsche Girozentrale boosted its stake in shares of California Resources by 44.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,026 shares of the oil and gas producer’s stock worth $259,000 after buying an additional 1,537 shares during the last quarter. Finally, AlphaMark Advisors LLC bought a new position in shares of California Resources in the second quarter valued at approximately $320,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

California Resources Stock Performance

Shares of CRC stock opened at $57.28 on Tuesday. The firm’s 50 day moving average is $53.06 and its 200 day moving average is $50.90. The stock has a market capitalization of $3.89 billion, a P/E ratio of 9.02, a PEG ratio of 1.40 and a beta of 0.98. California Resources Co. has a 12 month low of $43.09 and a 12 month high of $60.41. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32.

California Resources (NYSE:CRC) last posted its earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share (EPS) 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 firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $973.13 million. During the same quarter in the prior year, the business posted $1.02 earnings per share. The business’s quarterly revenue was up 194.1% on a year-over-year basis. On average, sell-side analysts anticipate that California Resources Co. will post 3.42 earnings per share for the current year.

California Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Monday, December 2nd. California Resources’s payout ratio is presently 24.41%.

Analyst Ratings Changes

A number of brokerages recently commented on CRC. Jefferies Financial Group assumed coverage on California Resources in a report on Thursday, October 24th. They set a “buy” rating and a $64.00 price target on the stock. StockNews.com raised shares of California Resources from a “sell” rating to a “hold” rating in a report on Saturday. Barclays increased their price target on shares of California Resources from $55.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. UBS Group initiated coverage on shares of California Resources in a research report on Wednesday, October 16th. They issued a “buy” rating and a $68.00 price objective on the stock. Finally, TD Cowen started coverage on shares of California Resources in a research report on Friday, August 2nd. They set a “buy” rating and a $65.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, California Resources currently has an average rating of “Moderate Buy” and an average price target of $65.50.

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.