Charles Schwab Investment Management Inc. Grows Position in California Resources Co. (NYSE:CRC)

Charles Schwab Investment Management Inc. grew its position in shares of California Resources Co. (NYSE:CRC - Free Report) by 8.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 974,202 shares of the oil and gas producer's stock after purchasing an additional 75,606 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.44% of California Resources worth $51,116,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew 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 purchasing an additional 371 shares during the period. KBC Group NV boosted its holdings in California Resources by 29.1% in the 3rd quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer's stock worth $100,000 after buying an additional 431 shares during the last quarter. Farther Finance Advisors LLC increased its stake 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 worth $169,000 after buying an additional 276 shares in the last quarter. Atria Investments Inc acquired a new position in shares of California Resources during the third quarter valued at approximately $209,000. Finally, Privium Fund Management B.V. purchased a new position in shares of California Resources in the second quarter valued at approximately $258,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America upgraded California Resources from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $57.00 to $65.00 in a research report on Wednesday, August 21st. StockNews.com upgraded shares of California Resources from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. Jefferies Financial Group initiated coverage on shares of California Resources in a research report on Thursday, October 24th. They set a "buy" rating and a $64.00 price target on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $65.00 target price on shares of California Resources in a research note on Monday, August 12th. Finally, Stephens assumed coverage on California Resources in a research report on Tuesday, October 22nd. They issued an "overweight" rating and a $73.00 price target for the company. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, California Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.40.

Insider Buying and Selling at California Resources

In related news, VP Noelle M. Repetti sold 8,770 shares of California Resources stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 owns 8,531 shares in the company, valued at approximately $475,603.25. The trade was a 50.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Francisco Leon sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $49.18, for a total transaction of $368,850.00. Following the sale, the chief executive officer now directly owns 166,357 shares in the company, valued at approximately $8,181,437.26. The trade was 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 valued at $1,387,778 over the last quarter. 0.03% of the stock is owned by company insiders.

California Resources Trading Up 1.2 %

Shares of California Resources stock traded up $0.69 during trading hours on Friday, hitting $59.16. The company's stock had a trading volume of 321,419 shares, compared to its average volume of 646,730. The firm has a fifty day moving average of $54.49 and a 200-day moving average of $51.42. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 9.32, a P/E/G ratio of 1.47 and a beta of 0.98. California Resources Co. has a twelve month low of $43.09 and a twelve month high of $60.41.

California Resources (NYSE:CRC - Get Free Report) last announced its earnings results 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. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $973.13 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. California Resources's revenue was up 194.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.02 earnings per share. Research analysts forecast that California Resources Co. will post 3.42 EPS for the current year.

California Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.3875 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.55 annualized dividend and a yield of 2.62%. California Resources's dividend payout ratio (DPR) is presently 24.41%.

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.