California Resources Co. (NYSE:CRC) Shares Sold by EMC Capital Management

EMC Capital Management lowered its stake in shares of California Resources Co. (NYSE:CRC - Free Report) by 33.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,799 shares of the oil and gas producer's stock after selling 4,962 shares during the period. EMC Capital Management's holdings in California Resources were worth $508,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CRC. GAMMA Investing LLC boosted its position in shares of California Resources by 22.8% during the fourth quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer's stock worth $62,000 after buying an additional 222 shares during the period. Farther Finance Advisors LLC boosted its holdings 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 during the period. Clear Harbor Asset Management LLC grew its position in California Resources by 6.0% in the 4th quarter. Clear Harbor Asset Management LLC now owns 7,475 shares of the oil and gas producer's stock valued at $388,000 after acquiring an additional 425 shares in the last quarter. KBC Group NV increased its stake in 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 during the period. Finally, Nisa Investment Advisors LLC increased its stake in California Resources by 71.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer's stock worth $56,000 after purchasing an additional 454 shares during the period. Institutional investors and hedge funds own 97.79% of the company's stock.

Insider Activity at California Resources

In related news, VP Noelle M. Repetti sold 8,770 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.75, for a total value of $488,927.50. Following the sale, the vice president now directly owns 8,531 shares in the company, valued at $475,603.25. The trade was a 50.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Omar Hayat sold 16,016 shares of the stock in a transaction dated Thursday, December 12th. The shares were 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 in the company, valued at approximately $1,707,269.20. The trade was 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 currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on CRC. Capital One Financial upgraded shares of California Resources to a "strong-buy" rating in a report on Monday, December 9th. TD Cowen raised their target price on California Resources from $65.00 to $74.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. 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 target for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $70.00 price target on shares of California Resources in a research note on Tuesday, January 14th. Finally, UBS Group began coverage on shares of California Resources in a research report on Wednesday, October 16th. They set a "buy" rating and a $68.00 price objective on the stock. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.25.

California Resources Price Performance

Shares of California Resources stock traded down $0.61 during trading on Monday, reaching $48.59. The company's stock had a trading volume of 327,814 shares, compared to its average volume of 715,337. The business has a 50 day moving average price of $53.52 and a 200-day moving average price of $52.53. The company has a market capitalization of $4.44 billion, a P/E ratio of 7.64, a price-to-earnings-growth ratio of 1.01 and a beta of 1.04. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. California Resources Co. has a 12-month low of $43.09 and a 12-month high of $60.41.

California Resources (NYSE:CRC - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.62. The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $973.13 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The business's revenue for the quarter was up 194.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 EPS. As a group, sell-side analysts anticipate that California Resources Co. will post 3.85 EPS for the current year.

California Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Monday, December 2nd. California Resources's dividend payout ratio is currently 24.41%.

About California Resources

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.