Empowered Funds LLC Has $1.39 Million Stake in California Resources Co. (NYSE:CRC)

Empowered Funds LLC lowered its position in shares of California Resources Co. (NYSE:CRC - Free Report) by 38.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,546 shares of the oil and gas producer's stock after selling 16,435 shares during the period. Empowered Funds LLC's holdings in California Resources were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in shares of California Resources during the third quarter worth approximately $682,000. Interval Partners LP bought a new position in California Resources during the 2nd quarter worth $2,213,000. Vest Financial LLC increased its stake in California Resources by 38.4% during the 2nd quarter. Vest Financial LLC now owns 470,694 shares of the oil and gas producer's stock worth $25,050,000 after acquiring an additional 130,526 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in California Resources during the 2nd quarter worth $729,000. Finally, 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 acquiring an additional 276 shares during the period. Institutional investors own 97.79% of the company's stock.

Wall Street Analyst Weigh In

CRC has been the topic of a number of recent research reports. Citigroup raised their price objective on California Resources from $63.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, September 5th. Stephens initiated coverage on California Resources in a report on Tuesday, October 22nd. They issued an "overweight" rating and a $73.00 target price on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $65.00 target price on shares of California Resources in a report on Monday, August 12th. UBS Group initiated coverage on California Resources in a report on Wednesday, October 16th. They issued a "buy" rating and a $68.00 target price on the stock. Finally, Barclays raised their target price on California Resources from $55.00 to $57.00 and gave the company an "equal weight" rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, California Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.50.

California Resources Trading Up 0.3 %

NYSE:CRC traded up $0.16 during trading hours on Friday, hitting $59.74. 228,629 shares of the company were exchanged, compared to its average volume of 842,026. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 1.43 and a beta of 0.98. 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 Co. has a one year low of $43.09 and a one year high of $60.41. The company has a fifty day simple moving average of $53.67 and a 200 day simple moving average of $51.05.

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 (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 business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $973.13 million. During the same period last year, the company earned $1.02 EPS. California Resources's revenue for the quarter was up 194.1% compared to the same quarter last year. Sell-side analysts expect that California Resources Co. will post 3.42 EPS for the current fiscal year.

California Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.3875 dividend. This represents a $1.55 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Monday, December 2nd. California Resources's dividend payout ratio (DPR) is presently 24.41%.

Insider Transactions at California Resources

In related news, CEO Francisco Leon sold 7,500 shares of the business'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 sale, the chief executive officer now directly owns 166,357 shares of the company's stock, valued at $8,181,437.26. The trade was a 4.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Noelle M. Repetti sold 10,000 shares of the business's stock in a transaction dated Tuesday, September 17th. The shares were 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 of the company's stock, valued at $916,953. The trade was a 36.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,270 shares of company stock valued at $1,387,778. Corporate insiders own 0.03% of the company's stock.

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.