California Resources Co. (NYSE:CRC) Shares Sold by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. trimmed its stake in shares of California Resources Co. (NYSE:CRC - Free Report) by 27.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,848 shares of the oil and gas producer's stock after selling 28,811 shares during the quarter. Levin Capital Strategies L.P. owned 0.08% of California Resources worth $3,884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in California Resources during the 3rd quarter worth $682,000. Swiss National Bank grew its stake in California Resources by 12.7% during the 3rd quarter. Swiss National Bank now owns 121,900 shares of the oil and gas producer's stock worth $6,396,000 after purchasing an additional 13,700 shares in the last quarter. Geode Capital Management LLC grew its stake in California Resources by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,592,663 shares of the oil and gas producer's stock worth $83,583,000 after purchasing an additional 55,815 shares in the last quarter. Natixis Advisors LLC acquired a new position in California Resources during the 3rd quarter worth $579,000. Finally, State Street Corp grew its stake in California Resources by 5.1% during the 3rd quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer's stock worth $181,021,000 after purchasing an additional 168,278 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

California Resources Stock Performance

Shares of California Resources stock traded up $1.20 on Wednesday, hitting $40.37. The stock had a trading volume of 1,316,357 shares, compared to its average volume of 807,925. California Resources Co. has a 52-week low of $38.02 and a 52-week 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. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 6.36, a P/E/G ratio of 1.02 and a beta of 1.06. The company's 50 day moving average price is $49.55 and its 200 day moving average price is $52.04.

Remove Ads

California Resources (NYSE:CRC - Get Free Report) last posted its earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.05). California Resources had a net margin of 17.43% and a return on equity of 12.16%. The firm had revenue of $877.00 million during the quarter, compared to analysts' expectations of $901.36 million. On average, research analysts anticipate that California Resources Co. will post 3.85 EPS for the current year.

California Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Monday, March 10th. California Resources's dividend payout ratio is presently 24.41%.

Analyst Ratings Changes

Several research analysts recently commented on CRC shares. StockNews.com raised California Resources from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. TD Cowen upped their price objective on California Resources from $65.00 to $74.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Truist Financial assumed coverage on California Resources in a research report on Monday, January 13th. They set a "buy" rating and a $75.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on California Resources in a research report on Friday, December 20th. They set a "neutral" rating and a $63.00 price objective for the company. Finally, Capital One Financial raised California Resources to a "strong-buy" rating in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $67.08.

Insider Buying and Selling at California Resources

In other California Resources news, EVP Omar Hayat sold 16,016 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $55.18, for a total transaction of $883,762.88. Following the completion of the sale, the executive vice president now directly owns 30,940 shares of the company's stock, valued at $1,707,269.20. This represents a 34.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is owned by company insiders.

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.