Public Employees Retirement System of Ohio Sells 12,560 Shares of California Resources Co. (NYSE:CRC)

Public Employees Retirement System of Ohio reduced its stake in California Resources Co. (NYSE:CRC - Free Report) by 35.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,210 shares of the oil and gas producer's stock after selling 12,560 shares during the quarter. Public Employees Retirement System of Ohio's holdings in California Resources were worth $1,218,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System lifted its position in shares of California Resources by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,300 shares of the oil and gas producer's stock worth $1,719,000 after purchasing an additional 400 shares during the last quarter. Bfsg LLC raised its holdings in California Resources by 15.4% in the 2nd quarter. Bfsg LLC now owns 6,379 shares of the oil and gas producer's stock valued at $339,000 after acquiring an additional 851 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of California Resources by 20.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,317 shares of the oil and gas producer's stock worth $656,000 after purchasing an additional 2,116 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of California Resources in the second quarter valued at $729,000. Finally, Empirical Finance LLC bought a new position in California Resources in the second quarter worth $597,000. Institutional investors own 97.79% of the company's stock.

Insider Activity at California Resources

In other California Resources news, EVP Omar Hayat sold 16,016 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $55.18, for a total value of $883,762.88. Following the sale, the executive vice president now owns 30,940 shares in the company, valued at approximately $1,707,269.20. The trade was a 34.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $488,927.50. Following the completion of the sale, the vice president now owns 8,531 shares in the company, valued at $475,603.25. This trade represents a 50.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.03% of the stock is owned by insiders.

California Resources Trading Down 0.8 %

Shares of California Resources stock traded down $0.42 during trading on Friday, reaching $50.56. 3,532,982 shares of the company were exchanged, compared to its average volume of 837,286. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 7.96, a P/E/G ratio of 1.35 and a beta of 1.01. California Resources Co. has a twelve month low of $43.09 and a twelve month high of $60.41. The business has a 50-day moving average price of $55.02 and a 200-day moving average price of $52.10. 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 (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 firm had revenue of $1.35 billion during 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 quarter in the previous year, the company earned $1.02 earnings per share. Sell-side analysts anticipate that California Resources Co. will post 3.58 EPS for the current fiscal year.

California Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.3875 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.55 dividend on an annualized basis and a yield of 3.07%. California Resources's payout ratio is 24.41%.

Analysts Set New Price Targets

CRC has been the topic of a number of analyst reports. TD Cowen upped their target price on shares of California Resources from $65.00 to $74.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. began coverage on California Resources in a research note on Friday. They issued a "neutral" rating and a $63.00 price target on the stock. Citigroup increased 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. Capital One Financial raised California Resources to a "strong-buy" rating in a report on Monday, December 9th. Finally, StockNews.com raised California Resources from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $66.09.

California Resources Company 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.