11,042 Shares in California Resources Co. (NYSE:CRC) Purchased by Natixis Advisors LLC

Natixis Advisors LLC purchased a new stake in shares of California Resources Co. (NYSE:CRC - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,042 shares of the oil and gas producer's stock, valued at approximately $579,000.

Several other institutional investors have also recently made changes to their positions in the business. KBC Group NV increased its stake in shares of 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 purchasing an additional 431 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in California Resources in the third quarter worth about $682,000. Atria Investments Inc purchased a new stake in California Resources in the third quarter worth about $209,000. Amalgamated Bank raised its stake in shares of California Resources by 3.1% in the third quarter. Amalgamated Bank now owns 20,406 shares of the oil and gas producer's stock worth $1,071,000 after buying an additional 605 shares during the period. Finally, Private Management Group Inc. lifted its position in shares of California Resources by 0.3% during the 3rd quarter. Private Management Group Inc. now owns 796,610 shares of the oil and gas producer's stock valued at $41,798,000 after buying an additional 2,651 shares in the last quarter. Institutional investors own 97.79% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CRC. UBS Group began coverage on shares of California Resources in a research note on Wednesday, October 16th. They set a "buy" rating and a $68.00 target price on the stock. Citigroup lifted their target price on shares of California Resources from $63.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, September 5th. Royal Bank of Canada reiterated an "outperform" rating and issued a $65.00 price target on shares of California Resources in a research note on Monday, August 12th. StockNews.com upgraded California Resources from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. Finally, Barclays increased their target price on California Resources from $55.00 to $57.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $66.40.

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 stock was sold at an average price of $55.75, for a total value of $488,927.50. Following the transaction, the vice president now owns 8,531 shares of the company's stock, valued at $475,603.25. This represents a 50.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Francisco Leon sold 7,500 shares of California Resources stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $49.18, for a total transaction of $368,850.00. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. In the last quarter, insiders sold 26,270 shares of company stock worth $1,387,778. 0.03% of the stock is currently owned by insiders.

California Resources Price Performance

Shares of California Resources stock traded up $0.69 during trading hours on Friday, reaching $59.16. The company's stock had a trading volume of 321,418 shares, compared to its average volume of 837,810. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. California Resources Co. has a one year low of $43.09 and a one year high of $60.41. The firm has a 50 day moving average price of $54.25 and a 200-day moving average price of $51.27. The stock has a market cap of $4.02 billion, a P/E ratio of 9.21, a P/E/G ratio of 1.45 and a beta of 0.98.

California Resources (NYSE:CRC - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.62. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $973.13 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. The company's quarterly revenue was up 194.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 earnings per share. On average, analysts predict that California Resources Co. will post 3.42 EPS for the current year.

California Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.3875 dividend. This represents a $1.55 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is 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.