California Resources Co. (NYSE:CRC) Shares Sold by Fmr LLC

FMR LLC lessened its position in shares of California Resources Co. (NYSE:CRC - Free Report) by 16.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,289,102 shares of the oil and gas producer's stock after selling 440,817 shares during the quarter. FMR LLC owned approximately 3.37% of California Resources worth $120,109,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. GAMMA Investing LLC increased its holdings in California Resources by 61.5% in the 3rd quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer's stock worth $51,000 after acquiring an additional 371 shares in the last quarter. KBC Group NV raised its position in shares of California Resources by 29.1% during the 3rd 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 last quarter. Farther Finance Advisors LLC lifted its stake in California Resources by 9.4% in 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 buying an additional 276 shares in the last quarter. Atria Investments Inc acquired a new stake in California Resources in the 3rd quarter worth about $209,000. Finally, Privium Fund Management B.V. purchased a new stake in California Resources during the 2nd quarter worth approximately $258,000. Institutional investors and hedge funds own 97.79% of the company's stock.

California Resources Stock Up 0.5 %

Shares of CRC traded up $0.30 during mid-day trading on Thursday, hitting $55.32. 599,781 shares of the company's stock were exchanged, compared to its average volume of 833,347. The stock's 50-day moving average is $54.70 and its 200-day moving average is $51.57. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. California Resources Co. has a fifty-two week low of $43.09 and a fifty-two week high of $60.41. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 8.66, a P/E/G ratio of 1.42 and a beta of 1.01.

California Resources (NYSE:CRC - Get Free Report) last released its earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.62. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $973.13 million. During the same period in the prior year, the business earned $1.02 EPS. The firm'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 fiscal year.

California Resources Announces Dividend

The firm also recently declared 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 2.80%. The ex-dividend date is Monday, December 2nd. California Resources's dividend payout ratio (DPR) is 24.41%.

Insider Transactions at California Resources

In other California Resources news, VP Noelle M. Repetti sold 8,770 shares of the company's stock in a transaction 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 $475,603.25. This represents a 50.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. UBS Group started coverage on California Resources in a research note on Wednesday, October 16th. They issued a "buy" rating and a $68.00 price target on the stock. TD Cowen boosted their price target on shares of California Resources from $65.00 to $74.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Stephens began coverage on shares of California Resources in a research note on Tuesday, October 22nd. They issued an "overweight" rating and a $73.00 target price on the stock. Bank of America upgraded California Resources from a "neutral" rating to a "buy" rating and upped their price target for the company from $57.00 to $65.00 in a research report on Wednesday, August 21st. Finally, Jefferies Financial Group began coverage on California Resources in a research report on Thursday, October 24th. They set a "buy" rating and a $64.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, California Resources presently has an average rating of "Moderate Buy" and a consensus price target of $66.40.

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.